Photographs: China Daily China Daily Information Corp/Reuters
Britain's biggest bank, HSBC, has settled a money-laundering probe by American authorities for $1.9 billion. The bank admitted that its money-laundering controls and compliance with sanction laws had been inadequate, according to The Economist.
Let's take a look at biggest money-laundering settlements with US authorities.
Source: The Economist
...
Biggest money-laundering settlements by banks
Photographs: Tomas Bravo/Reuters
HSBC
Settlement: $1.92 billion
Year: December 2012
Countries involved in allegations: Mexico, Iran, Cuba and Saudi Arabia
Settlement rank: 1
...
Biggest money-laundering settlements by banks
Photographs: Stefan Wermuth/Reuters
Standard Chartered
Settlement: $667 million
Year: August/December 2012
Countries involved in allegations: Iran, Sudan, Libya and Myanmar
Settlement rank: 2
...
Biggest money-laundering settlements by banks
Photographs: Michael Kooren/Reuters
ING
Settlement: $619 million
Year: June 2012
Countries involved in allegations: Cuba and Iran
Settlement rank: 3
...
Biggest money-laundering settlements by banks
Photographs: Arnd Wiegmann/Reuters
Credit Suisse
Settlement: $536 million
Year: December 2009
Countries involved in allegations: Iran, Sudan, Libya, Myanmar and Cuba
Settlement rank: 4
...
Biggest money-laundering settlements by banks
Photographs: Stephen Hird/Reuters
RBS (ABN Amro)
Settlement: $500 million
Year: May 2010
Countries involved in allegations: Iran and Libya
Settlement rank: 5
...
Biggest money-laundering settlements by banks
Photographs: Toby Melville/Reuters
Llyods Banking Group
Settlement: $350 million
Year: January 2009
Countries involved in allegations: Iran and Sudan
Settlement rank: 6
...
Biggest money-laundering settlements by banks
Photographs: Simon Newman/Reuters
Barclays
Settlement: $298 million
Year: August 2010
Countries involved in allegations: Sudan, Iran, Myanmar and Cuba
Settlement rank: 7
article