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HSBC to pay $1.92 bn to settle US laundering probe

Banking giant HSBC said Tuesday it had agreed to pay US authorities a record $1.92 billion to settle allegations of money laundering.

"HSBC has reached agreement with United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws," the Hong Kong-listed lender said in a statement.

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This article is part of the RNW archive. RNW is the former Radio Netherlands Worldwide or Wereldomroep, which was founded as the Dutch international public broadcaster in 1947. In 2011 Dutch government’s decided to cut funding and shift RNW in 2013 from the ministry of Education, Culture and Science to the ministry of Foreign Affairs. More information about RNW’s current activities can be found at http://www.rnw.org/about-rnw