UK: HSBC FINED £64 MILLION FOR AML FAILINGS

On 17 December, the BBC and others reported that HSBC has been fined £63.9 million by the FCA for “unacceptable failings” of its AML systems.  It said weaknesses in HSBC’s financial crime safeguards had been highlighted several times before action was taken.

https://www.bbc.co.uk/news/business-59689581

https://www.finextra.com/newsarticle/39422/hsbc-fined-639m-for-aml-failings/mobile

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: