FSA tells HSBC to 'clean up its act' after money laundering probe

The Financial Services Authority (FSA) has told HSBC to 'clean up its act'.

The FSA want HSBC to employ an independent monitor to check up on them for money laundering.

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HSBC's £1.2bn laundering fine

HSBC will pay $1.9 billion (£1.2 billion) to settle a money-laundering probe by US federal and state authorities, the largest paid in such a case. A US Senate investigation said it had been a conduit for "drug kingpins and rogue nations".