HSBC to Pay $1.92 Billion in U.S. Money-Laundering Probe
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HSBC Holdings Plc, Europe’s largest bank, agreed to pay $1.92 billion to settle U.S. probes of money laundering in the largest such accord ever.
The settlement includes a deferred prosecution agreement with the U.S. Department of Justice, the London-based bank said in an e-mailed statement today. The U.K.’s Financial Services Authority said the bank will have to employ an independent monitor to oversee compliance with anti-money laundering requirements.