British bank HSBC is hit with $1.9B in U.S. fines over money laundering claims

American authorities on Tuesday cited “astonishing” dysfunction at the British bank HSBC and said that it had helped Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world.

By LARRY NEUMEISTER and CHRISTINA REXRODE Published: December 12, 2012

NEW YORK — American authorities on Tuesday cited “astonishing” dysfunction at the British bank HSBC and said that it had helped Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world.

HSBC agreed to pay...

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