Washington: British bank HSBC will have to cough up USD 1.9 billion to US authorities to settle allegations of money laundering.
According to The Wall Street Journal, the deal could be announced as early as Tuesday in New York.
Reportedly, the settlement amount of USD 1.3 billion is a largest forfeit amount to be paid by bank.
Accusations came from the US lawmakers that HSBC gave Iran, terrorists and drug dealers access to the US financial system.
The London-based bank also would pay a civil fine of more than USD 650 million, according to people briefed on the issue, the newspaper said.
Criminal investigators have been pursuing some of the same allegations highlighted in the Senate probe, reports said.
First Published: Tuesday, December 11, 2012, 10:31