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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".

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Cameron: 'Bankers should feel full force of the law'

David Cameron has said he believes bankers should be held personally responsible for incidents such as money-laundering.

Following the announcement that HSBC is to pay £1.2 billion in a money-laundering probe by US authorities, the Prime Minister told the House of Commons Liaison Committee:

It is a very serious offence. We do have quite strict controls in this country in terms of how banking regulation and money-laundering regulation works.

I have always said, with respect to bankers, if they get it wrong, like anybody else, they should feel the full force of the law.

– David Cameron

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