HSBC money laundering

HSBC posts Q3 profit of $5.1 bn, confirms forex probe

HSBC reported a 10 percent rise in third quarter profits on Monday, helped by tighter cost control and fewer losses from bad loans, and confirmed it was being investigated as part of a global probe into currency market trading manipulation.

Nov 04, 2013, 17:31 PM IST

US judge approves HSBC's $1.92 billion money laundering settlement

The settlement, announced December 11, 2012, included a USD 1.256 billion forfeiture and USD 665 million in civil fines.

Jul 03, 2013, 09:54 AM IST

HSBC broke sanctions on Iran, others: US

British bank HSBC intentionally broke American sanctions on Iran and other countries while also laundering Mexican drug money, the US on Wednesday said, as the banking major was to pay USD 1.92 billion to settle the allegations.

Dec 12, 2012, 09:23 AM IST

'HSBC could have laundered money for Mexican drug cartels'

US prosecutors, who have launched an investigation into the money transaction by some global banks, suspect HSBC could have laundered money for Mexican drug cartels and moved cash for Saudi Arabian banks with ties to terrorists.

Aug 25, 2012, 13:57 PM IST

India to seek HSBC, Stanchart details from UK regulator

The Reserve Bank and other Indian agencies are seeking details from British financial regulator FSA about two UK-based global banking giants HSBC and Standard Chartered whose outsourcing of key oversight jobs to India has come under the US scanner in separate probes related to issues like money laundering and terror financing.

Aug 12, 2012, 12:15 PM IST

HSBC says sorry, takes $700 mn hit for US fraud

HSBC Monday said it has set aside USD 700 million for potential penal actions against the bank in the US, where it has found to have had inadequate safeguards against money laundering and terrorist financing activities.

Jul 30, 2012, 18:17 PM IST

FIU initiates probe in HSBC India operations

The FIU provides information to the country's various enforcement and intelligence agencies about suspicious financial transactions that are done through banks and other financial institutions.

Jul 22, 2012, 17:04 PM IST

HSBC scandal: RBI looking into all aspects

The Reserve Bank on Saturday said it is looking into all aspects of the entities it regulates, a comment that comes in the wake of HSBC being pulled up by the US Senate for failing to prevent money laundering activities.

Jul 21, 2012, 22:08 PM IST

HSBC money laundering case: RBI looking into issues raised by US Senate

The Reserve Bank is looking into the issue of non-compliance of anti-money laundering norms by the Indian staff of HSBC raised by a US Senate Committee, a senior Finance Ministry official said on Thursday.

Jul 19, 2012, 15:38 PM IST

HSBC money laundering probe: Bank's India staff under scanner

HSBC's staff in India have come under the scanner for deficiencies in their role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.

Jul 18, 2012, 14:52 PM IST

Top HSBC official resigns; bank apologises over money laundering scandal

Admitting massive shortcoming in its anti-money laundering operations, a top HSBC official on Tuesday informed a Senate panel his decision to step down and the measures being taken to address the issues raised by the Senate committee's investigative report in this regard.

Jul 18, 2012, 09:38 AM IST

HSBC exposed US and possibly India to terror funding

Global banking giant HSBC failed in preventing money laundering by drug cartels and terrorists not only in the US, but also other parts of the world, possibly including India, a Senate Permanent Subcommittee on Investigations probe has found.

Jul 17, 2012, 09:31 AM IST

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