Bank HSBC probed for money laundering: report [1]

                                                 Yahoo! News [2]

                                                       AFP – Sat, Aug 25, 2012 

                                      

 

US prosecutors are looking into whether British bank HSBC was involved in laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, The New York Times reported Saturday.

Citing unnamed federal authorities with direct knowledge of the investigations, the newspaper said the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.

Last month, HSBC announced that its Mexico unit had paid a fine totalling 379 million Mexican pesos ($27.5 million) to Mexico's banking regulators for breaching anti-money laundering controls.

To read the rest of this article visit:http://news.yahoo.com/bank-hsbc-probed-money-laundering-report-171219414.html?code=AQAz46bUmJOlnUtm2NxHuAeMt_EcdCoZG9 [3]