HSBC Fined $27.5 Million in Mexican Money-Laundering Probe
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HSBC Holdings Plc, Europe’s biggest bank, said its Mexican unit paid a $27.5 million fine to the nation’s regulators for non-compliance with money-laundering systems and controls.
The infringements relate to the late reporting of 1,729 unusual transactions and the failure to report 39 others, the London-based bank said in a statement today.