$1.9B HSBC Money Laundering Fine Shows Prosecutors' Limits

Law360, New York (December 11, 2012, 8:03 PM EST) -- The record $1.92 billion fine levied Tuesday by federal and state regulators against HSBC Holdings PLC proves U.S. regulators' commitment to aggressive enforcement of U.S. anti-money laundering laws, but experts say the settlement may also reveal a reluctance to pursue criminal charges that could topple a global bank.

Although the total $1.92 billion settlement value is an attention-grabbing number, it does not even cover HSBC's profits for the third quarter of 2012, and that has some questioning the deal's deterrent value for other banks. To some,...
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