Grassley: HSBC Should Face Criminal Charges
On February 13, 2013, the Government of Canada published in the Canada Gazette certain amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (the Regulations). These amendments will come...more
Financial businesses operating in the European Union will need to consider implementing stricter anti-money-laundering and anti-terrorism-financing controls or face a potential fine of up to 10 percent of their annual...more
I recently wrote about banks behaving badly. Currently, Exhibit A in that list is HSBC. In December, 2012, the UK banking giant HSBC agreed to pay a fine of $1.92 billion for its transgressions involving money laundering....more
The end of the year was very tough for global banks. For months significant enforcement actions were expected in the ongoing LIBOR manipulation probe and anti-money laundering and sanctions violations probes....more
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