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HSBC pays huge fine over money-laundering allegations

  • $1.9B the amount UK-based banking conglomerate HSBC will pay American authorities for their role in a money-laundering scheme, the BBC reports. The bank allegedly assisted drug cartels and countries under sanction launder money. $1.25 billion of the total is money that the company will forfeit — a record — while the rest will be a fine paid to the U.S. government. source
December 10, 2012 // 18:52 // 1 year ago
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  10. rubenfeld said: The fine would be a record too, as it is now held by ING, which paid $619 million.
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