2012-07-17 — telegraph.co.uk
HSBC was forced to apologise publicly today before the US Senate -- and saw its compliance chief resign -- over facilitating a multi-billion-dollar money-laundering operation for drug gangs, terrorists and rogue nations worldwide.
..
HSBC, the only British bank with US branches, is now braced for a "substantial" fine which analysts said could be up to $1bn (£640m). The latest banking scandal comes in the wake of Barclays' £290m fines for its role in rigging Libor.
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