HSBC has agreed to pay a record $1.92 billion (£1.2bn) fine to settle a multi-year probe by US prosecutors, who accused the bank of failing to enforce rules designed to prevent the laundering of criminal cash.
HSBC has agreed to pay a record $1.92 billion (£1.2bn) fine to settle a multi-year probe by US prosecutors, who accused the bank of failing to enforce rules designed to prevent the laundering of criminal cash.
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The US Justice Department yesterday charged the bank with failing to maintain an effective programme against money laundering and conduct due diligence on certain accounts.
It also charged the bank with violating sanctions laws by doing business with Iran, Libya, Sudan, Burma and Cuba.
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