But as Gancho warns, be careful about the significance of these reports. The fact the HSBC was lax does not translate into all of its business consisting of money-laundering. This is not exonerate HSBC. Nor is it to say that we should not combat money-laundering. It is simply to say that we have to be careful when estimating the size of illicit flows. Jumping to conclusions is just another way of making the cartels seem like unbeatable superorganizations, when they are not.