NYT: HSBC reportedly near $1.9 billion deal
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Federal and state authorities prepare to reveal a record $ 1. 9 billion settlement with HSBC on Tuesday, a major victory in the government's broad crackdown on money laundering at banks. The settlement with HSBC stems from accusations that the British banking giant transferred billions of dollars on behalf of approved nations like Iran and made it possible for Mexican drug cartels to launder cash through the American financial system, according to officials briefed on the matter. The offer, which will require the bank to surrender even more than $ 1. 2 billion and pay additional penalties, is the largest to arise from an examination that has actually extended a number of years and involved multiple government agencies.
NYT: HSBC reportedly near $1.9 billion deal
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Company: HSBC
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Country: Iran
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Source URL: http://www.nbcnews.com/business/hsbc-said-near-1-9-billion-settlement-over-money-laundering-1C7536290
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Federal and state authorities plan to announce a record $1.9 billion settlement with HSBC on Tuesday, a major victory in the government's broad crackdown on money laundering at banks.
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NYT: HSBC reportedly near $1.9 billion deal
Source URL: http://www.nbcnews.com/business/hsbc-said-near-1-9-billion-settlement-over-money-laundering-1C7536290
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