The Straits Times
www.straitstimes.com
Published on Dec 11, 2012
 

HSBC to pay US justice department $2.3b fine in money laundering case

 
 

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.