REUTERS | HSBC fined $85 mln for anti-money laundering failings
In below article from Reuters, Britain's financial regulator said on Friday that it had fined HSBC (HSBA.L) 63.95 million pounds ($85.16 million) for failings in its anti-money laundering processes.
The Financial Conduct Authority (FCA) said it had found that three key parts of HSBC's transaction monitoring systems showed serious weaknesses over a period of eight years from 31 March 2010 to 31 March 2018.
The regulator said HSBC had made a string of failings, including inadequate monitoring of money laundering and terrorist financing scenarios until 2014, and poor risk assessment of "new scenarios" after 2016....
HSBC fined $85 mln for anti-money laundering failings | Reuters
