HSBC To Pay Record $1.92 Bil Money Laundering Fines
HSBC (HBC) will pay a record $1.92 billion fine to settle U.S. government charges that lax money-laundering controls allowed Mexican drug cartels and rouge nations to shift hundreds of millions of dollars. In papers filed in federal court in New York, the government formally charged the bank with four felony counts, including willfully failing to maintain an effective anti-money-laundering program, and violating sanctions laws by doing business
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