HSBC to pay record $1. 9 billion U. S. fine in money laundering case
(Reuters) – HSBC has agreed to pay a record $1. 92 billion fine to settle a multi-year probe by U. S. prosecutors, who accused Europe’s biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash. HSBC Holdings Plc admitted to a breakdown of controls and apologized in a statement on Tuesday announcing it had reached a deferred-prosecution agreement with the U. S. Department of Justice, as first reported by Reuters last week. "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. . . .
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