HSBC’s money laundering fines to top US$1.5-billion, criminal charges likely

HSBC’s money laundering fines to top US$1.5-billion, criminal charges likely

The report undoubtedly caused considerable reputational damage to HSBC. The extent to which that has resulted in loss of business is hard to measure, but it has undoubtedly damaged our brand


A U.S. fine for anti-money laundering rule breaches could cost HSBC significantly more than US$1.5 billion and is likely to lead to criminal charges, Europe’s biggest bank said on Monday.

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