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U.S. Investigating HSBC for AML, Sanctions Troubles
By Colby Adams
printThe United States is investigating the U.S. operations of New York-based HSBC USA Inc. for potential Bank Secrecy Act and sanctions violations, the bank said in regulatory filings released Tuesday. HSBC is the subject of "ongoing examinations" by the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC), the Federal Reserve Bank of Chicago, the U.S. Attorney's Office and the U.S. Justice Department, HSBC said in a quarterly report to the U.S. Security Exchange Commission published Monday. The bank said the potential violations center on its correspondent banking relations and global banknotes business, and that the investigation will...
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