HSBC has said some of its US customers’ bank accounts were hacked in October. The lender said that the perpetrators may have accessed information including account numbers and balances, statement and transaction histories and payee details, as well as users’ names, addresses and dates of birth. The BBC understands the firm believes that fewer than […]

HSBC assist in spotting USD 500 million embezzlement in Angola (not sure what Credit Suisse or Standard Chartered did?) Angolan authorities charged Jose Filomeno dos Santos (Zenu), the son of the former long-time president Eduardo dos Santos, and Valter Filipe da Silva, a former governor of Angola’s central bank, with embezzling USD 500 million. His […]

HSBC (HSBA.L) drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties. Europe’s biggest bank paid a $1.9 billion fine and entered into the five-year deal in 2012 for failing to prevent […]

HONG KONG (Reuters) – A Hong Kong tribunal on Tuesday imposed a record fine of HK$400 million ($51 million) on the private banking unit of HSBC (HSBA.L) in a case related to the sale of Lehman Brothers-linked structured financial products between 2003 and 2008. The Securities and Futures Commission (SFC) had originally imposed a penalty […]

The failure of HSBC to clean up its act after an anti-money-laundering deal with America’s justice department has raised the possibility that US authorities may continue to monitor Britain’s biggest bank. HSBC revealed in its annual report last month that Michael Cherkasky, the independent monitor appointed by regulators in the United States to oversee HSBC’s […]

MILAN, March 22 (Reuters) – An Italian financial broker who worked on behalf of HSBC in the Swiss town of Lugano is under investigation for possible money laundering in a probe linked to a wider tax evasion case, an Italian finance police colonel told Reuters. The officer’s confirmation that an investigation has been opened followed […]

Why do bankers find it hard to tell the truth? They claim their sole concern is for their customers and their shareholders. They weigh taxes against profits, regulators against tax havens. Yet they never admit to their chief interest, which is bankers. Yesterday the world’s second biggest bank, HSBC, reduced London to grovelling hysteria by […]

HSBC has been sued by the families of U.S. citizens murdered by drug gangs in Mexico, claiming the bank let cartels launder billions of dollars to operate their business. The lawsuit alleges that by participating in the money laundering scheme of the cartels, HSBC knowingly contributed directly to the international drug and trafficking trade, including […]