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.

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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".