HSBC is to pay US authorities 1.9 billion dollars in a settlement over a money laundering probe. The UK-based bank was alleged to have helped launder money belonging to drug cartels and states under U.S sanctions. Earlier this year, HSBC admitted having poor money laundering controls following a U.S Senate investigation.
News On AIR | December 11, 2012 9:32 AM
HSBC Bank to pay $1.9bn to US authorities in settlement over money laundering probe