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June 30, 2021
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Created by
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⟶ Updated 18 Nov 2017 ⟶
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Events
Mexico's AML not functioning - senior manager's warning
Mr. Falciani hacked 30 000 accounts' data which revealed tax evaders
US Senate criticises HSBC for providing an Angolan private bank with weak anti-money laundering ready access to the US Financial systems.
The US Office implied deficiencies in HSBC AML practices and demanded a permanent regional compliance officer to be hired to submit full compliance plans.
HSBC admitted to processing drug-trafficking proceeds and transmitting funds from sanctioned countries. They sign a 5-year deferred prosecution agreement with the US authorities, if a new crime is committed they risk losing their banking licence.
The European Commission fines HSBC with 2 other banks for manipulating the Euribor . The fine in total was €485 mln.
HSBC agrees to pay $550m to settle US government allegations that it mis-sold mortgage-backed securities in the run-up to the financial crisis.
HSBC pays US and UK regulators $618m when it is one of six banks fined a total of $4.3bn for their involvement in a foreign exchange rate-rigging scandal.
HSBC in Swiss tax avoidance storm
