Tuesday, December 11, 2012

HSBC to pay $1.9 billion money laundering fine

Europe's biggest bank has confirmed it will pay a fine of almost two billion dollars to regulators in the United States. HSBC has admitted to misconduct in handling money belonging to drug cartels and states under US sanctions. Standard Chartered Bank has also been fined almost 330 million dollars for similar offences. Al Jazeera's John Joe Regan reports.

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