HSBC to pay $2.3 billion to settle US claims: Report

WASHINGTON (AFP) - US authorities plan to announce a record US$1.9 billion (S$2.3 billion) settlement with British bank HSBC to end allegations of money laundering, The Wall Street Journal reported Monday on its website.

The deal could be announced as early as Tuesday in New York, officials told the Journal.

Citing people familiar with the matter, the Journal said that the figure includes nearly US$1.3 billion, a record amount for a bank, as part of a deferred prosecution agreement.

The London-based bank also would pay a civil fine of more than US$650 million, according to people briefed on the issue, the newspaper said.