Report: US accuses HSBC of allowing transactions with Iran
The Associated Press is reporting the US alleges that HSBC intentionally allowed prohibited transactions with Iran, Libya, Sudan and Burma.
The Associated Press is reporting the US alleges that HSBC intentionally allowed prohibited transactions with Iran, Libya, Sudan and Burma.
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".