HSBC may face charges in US for money laundering
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HSBC may face charges in US for money laundering

HSBC may face charges in US for money laundering

HSBC has acknowledged that it could face criminal charges in the United States for money laundering. The bank has set aside an additional $800m to cover potential fines stemming from the case, bringing its total to $1.5bn. HSBC, which is negotiating a settlement with US authorities, is expected to pay the largest fine on record for money laundering and related actions. The US is seeking to dry up the supply of American dollars to drug cartels and terrorist organizations.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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