HSBC broke sanctions on Iran, others: US

December 12, 2012 01:57

British bank HSBC intentionally broke American sanctions on Iran and other countries while also laundering Mexican drug money, the US today said, as the banking major was to pay USD 1.92 billion to settle the allegations.

A four-count felony criminal information was filed today in federal court in the Eastern District of New York, charging HSBC with willfully failing to maintain an effective anti-money laundering programme and failing to conduct due diligence on its foreign affiliates.

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