Mexican regulators have levied a $28 million fine against the Mexico subsidiary of London-based HSBC Bank for failing to prevent money laundering through accounts at the bank.
July 26, 2012 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Mexican regulators have levied a $28 million fine against the Mexico subsidiary of London-based HSBC Bank for failing to prevent money laundering through accounts at the bank.
Mexico’s National Securities and Banking Commission said Wednesday that HSBC has paid the fines, equivalent to 379 million pesos, or about half of the subsidiary’s 2011 annual profits.
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