Continued Concerns With HSBC
Giant Bank Has Been Involved in Several Legal Investigations Since Signing Deferred Prosecution Agreement
January 25, 2015 — A new Public Citizen report lays out continued concerns involving HSBC Holdings plc. HSBC, one of the world's largest banks, signed a deferred prosecution agreement in 2012 in which it agreed to pay $1.9 billion in fines and restitution for violating anti-money-laundering laws, among other offenses, in order to avoid criminal prosecution. The firm also agreed to enact reforms to prevent future wrongdoing.
This report outlines numerous legal inquiries involving the company since it entered into the agreement.