Articles by Ben Protess and Jessica Silver-Greenberg
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HSBC to Pay $1.92 Billion to Settle Charges of Money Laundering
Ben Protess and Jessica Silver-Greenberg – The New York Times,
17 Dec 2012
US authorities decided against indicting HSBC in a money-laundering case over concerns that it could jeopardize one of the world’s largest banks and destabilize the global financial system. Instead, HSBC announced on Tuesday [11 Dec 2012] that it had agreed to a record $1.92 billion settlement over accusations that it transferred billions of dollars for nations like Iran and enabled Mexican drug cartels to move money illegally through its American subsidiaries.
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