Feds Target HSBC In Money-Laundering Probe

Law360, New York (August 4, 2010, 7:26 PM EDT) -- HSBC Holdings PLC has disclosed that the U.S. Department of Justice and banking regulators are probing the company's U.S. banking operations for possible violations of anti-money laundering requirements and other regulations.

HSBC has received grand jury subpoenas and other requests for information from the DOJ and U.S. attorney's office regarding its global banknotes business and foreign correspondent banking business, the company said in a regulatory filing Monday.

The company is also subject to ongoing examinations by the Office of the Comptroller of the Currency and the...
To view the full article, register now.