Former HSBC executive vice president Michael Gallagher testifies at the Senate Homeland Security and Governmental Affairs Committee in Washington July 17, 2012. A "pervasively polluted" culture at HSBC Holdings Plc allowed the bank to act as financier to clients seeking to route shadowy funds from the world's most dangerous and secretive corners, including Mexico, Iran, the Cayman Islands, Saudi Arabia and Syria, according to a scathing U.S. Senate report issued on Monday.