The British bank, HSBC Holdings plc (ADR) (NYSE:HBC), said that it would be pay a record $1.9 billion to settle claims of the bank’s money laundering activities. The US government says that HSBC’s US unit accepted billions of dollars from the Mexican drug cartels, Iran, and other … [Read more...]
HSBC Money-Laundering Fines Potentially $1.5 Billion, Criminal Charges Possible
HSBC Holdings announced Monday it has provisioned an additional $800 million to pay potential U.S. fines related to the ongoing money laundering charges against it, bringing the total to $1.5 billion. The fines are expected to be the largest on record for money laundering and related … [Read more...]
