HSBC to pay US justice department $2.3b fine in money laundering case
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The entrance to a HSBC Bank branch is shown in New York in this Aug 1, 2011 file photo. HSBC said on Tuesday it will pay a fine of US$1.92 billion (S$2.3 billion) in a deferred prosecution agreement with the US Department of Justice over the London-based bank's inadequate compliance with anti-money laundering laws. -- PHOTO: REUTERS
HONG KONG (REUTERS) - HSBC said on Tuesday it will pay a fine of US$1.92 billion (S$2.3 billion) in a deferred prosecution agreement with the US Department of Justice over the London-based bank's inadequate compliance with anti-money laundering laws.
"We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again," said Chief Executive Stuart Gulliver in a statement.
