BrainKing - Дискусии (Politics)

Отговорник: Vikings

Politics

Forum for discussing local and world politics and issues. All views are welcomed. Let your opinions be heard on current news and politics.

All standard guidelines apply to this board, No Flaming, No Taunting, No Foul Language,No sexual innuendos,etc..

As politics can be a volatile subject, please consider how you would feel if your comment were directed toward yourself.

Any post deemed to be in violation of guidelines will be deleted or edited without warning or notification. Any continued misbehavior will result in a ban or hidden status, so please play nice!!!

*"Moderators are here for a reason. If a moderator (or Global Moderator or Fencer) requests that a discussion on a certain subject to cease - for whatever reason - please respect these wishes. Failure to do so may result in being hidden, or banned."

Списък с дискусии

Режим: Всеки може да публикува

Покзавай първо най-старите съобщения

11. декември 2012, 12:39:45

Mort

Покажи публикациите на този потребител | препратка

Относно: Business is more moral than governments..

HSBC has confirmed it is to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.

A US Senate investigation said the UK-based bank had been a conduit for "drug kingpins and rogue nations". Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing. HSBC admitted having poor money laundering controls and apologised.

"We accept responsibility for our past mistakes," said HSBC group chief executive Stuart Gulliver in a statement. "We have said we are profoundly sorry for them, and we do so again." The bank said it had spent $290m on improving its systems to prevent money laundering and clawed back some bonuses paid to senior executives in the past.

It also said it expected to reach an agreement with the UK's Financial Services Authority shortly. Last month it announced it had set aside $1.5bn to cover the costs of any settlement or fines.

The news followed the announcement of a similar but much smaller settlement with UK-based Standard Chartered bank, which will pay $300m in fines for violating US sanctions.