HSBC faces $1bn fine in anti-money laundering control breach

Natalie Kenway
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HSBC has revealed it faces a hefty fine estimated at $1bn by analysts from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

Stuart Gulliver, chief executive, wrote a memo to staff saying he could not reassure regulators the bank did not facilitate the financing of terrorism and other criminal activities, the FT reports....

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