The subcommittee said the OCC allowed HSBC's anti-money laundering deficiencies "to fester for years" before finally taking action in 2010, requiring the bank to improve its internal controls.

The report alleges the UK “hampered” the probe and “influenced” the outcome. HSBC was accused of letting drug cartels use US banks to launder funds. A US Congressional report revealed UK ...

means HSBC avoids a criminal conviction on money laundering and other major charges — which could have amounted to a financial death sentence by blocking the bank's access to the U.S. banking ...

Assistant US Attorney General Lanny Breuer speaks during a news conference to announce money laundering charges against HSBC on December 11, 2012 in New York City. Federal officials expressed ...

Bank has been in negotiations over allegations of laundering funds of nations including Iran, Sudan WASHINGTON (AP) — HSBC, the British banking giant, will pay $1.9 billion to settle a money ...

Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of ...

WASHINGTON HSBC, the British banking giant, said Tuesday it will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States. The probe of the bank ...

London-based HSBC told FOX Business it is clawing back bonuses related to the money-laundering lapses, but declined to disclose details. “I would emphasize that this is not about certain ...

HSBC Holdings PLC has spent hundreds of millions of dollars to overhaul its anti-money-laundering system, including hiring a former British spy and a tobacco-spitting former drug-enforcement ...

It added that HSBC “failed to recognise the indications of money laundering presented by these transactions”, with its handling of the issue making it “impossible to establish the legitimate ...

HSBC conceded that its anti-money laundering measures were inadequate and that it has taken big steps in beefing up its controls. The bank also said it has reached agreements over investigations ...