HSBC To Pay Record $1.9B Fine In Money Laundering Probe

Law360, New York (December 10, 2012, 7:43 PM EST) -- HSBC Holdings PLC on Tuesday agreed to a $1.9 billion settlement with state and federal authorities following a money laundering investigation after a U.S. Senate report in July claimed the banking giant failed to flag certain suspicious transfers from countries including Mexico.

The British bank agreed to a deferred prosecution agreement with the U.S. Department of Justice as well as separate agreements with the U.S. Treasury and the Manhattan District Attorney’s Office The agreements require the bank to forfeit more than $1.2 billion, along with approximately...
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