Justice Department, December 2012: HSBC admitted anti-money-laundering and sanctions violations, including at least $881 million in drug cartel money laundered through its U.S. bank, and paid $665 million more in civil penalties.
In addition to forfeiting $1.256 billion as part of its deferred prosecution agreement (DPA) with the Department of Justice, HSBC has also agreed to pay $665 million in civil penalties – $500 million to the Office of the Comptroller of the Currency (OCC) and $165 million to the Federal Reserve.
Justice Department, December 2012: HSBC admitted anti-money-laundering and sanctions violations, including at least $881 million in drug cartel money laundered through its U.S. bank, and paid $665 million more in civil penalties.