Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

Compliance, Financial Crime

LATEST: US announces end to 10-year long probe into HSBC as ‘preferred financial institution’ for Mexican and Colombian cartels

By Elizabeth Hearst for AMLi

The US Federal Reserve has announced the end to its 10-year enforcement action against HSBC for money laundering and sanctions rules.

The bank stood accused of being the “preferred financial institution” for Mexican and Colombian drug cartels back in 2012 and has paid more than $2BN in fines in the interim.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!