Money-Laundering Charges: HSBC Pay $1.9B

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Banking giant HSBC agreed to pay a $1.92 billion settlement on Tuesday [Dec 12] after an investigation by U.S. authorities found the bank violated laws by laundering money from Mexican and Colombian drug cartels and processed banned transactions for countries subject to U.S. sanctions, including Cuba, Iran and Sudan. U.S. Assistant Attorney General Lanny Breuer said: “HSBC […]

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