HSBC to pay $1.9B in money laundering probe

HSBC, the British banking giant, will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States, a law enforcement official said Monday. The probe of the bank — Europe's largest by market value — has focused on the transfer of billions of dollars on behalf of nations like Iran, which are under international sanctions, and the transfer of money through the U.S. financial system from Mexican drug cartels. More on USA Today. HSBC is a Global Compact participant since 2000/11/27. HSBC (LSE:HSBA) was a Gold Contributor to the Foundation for the Global Compact in 2011 and 2012.

Mexican regulators impose highest fine ever on HSBC for money-laundering

Mexico's National Banking and Securities Commission (CNBV) said it had imposed the fine against HSBC due to its “non-compliance with anti-money laundering systems and controls”. The fine is in the amount of $27.5m. More at Merco Press. Read the original statement (Spanish) HSBC is a Global Compact participant since 2000/11/27. HSBC (LSE:HSBA) was a Gold Contributor to the Foundation for the Global Compact in 2011.