Regulators Fine Argentine Unit of HSBC $14 Million, Telam Says

Lock
This article is for subscribers only.

Argentina’s anti-money laundering office fined the local unit of HSBC Holdings Plc 64 million pesos ($14 million) for failing to report suspicious company transactions, state-run news agency Telam reported.

The transactions, worth about 31.7 million pesos, took place from September to December 2007 and involved a company that said it had neither employees nor installations, the agency said.