Deferred criminal charges enjoy been hanging over the bank since it was fined for alleged money laundering five years agoHSBC has avoided the threat of prosecution in the US over allegations that its lax controls allowed Mexican drug traffickers to launder cash through the bank.
The risk of a prosecution has been hanging over Britain’s biggest bank for the past five years after it was forced to pay $1.9bn (£1.4bn) to the US authorities to settle claims it allowed “narcotics traffickers and others to launder hundreds of millions of dollars through HSBC subsidiaries and to facilitate hundreds of millions more in transactions with sanctioned countries”. Continue reading...
Source: guardian.co.uk