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HSBC Seeks Enterprise-Wide Access to Client Records

By Paul Peachey

Global bank HSBC is pressing regulators to allow its investigators to share confidential information across all 70 of its international affiliates to improve anti-money laundering compliance, the head of its threat mitigation unit said. Variances in national laws generally prevent financial institutions from sharing privileged client data across borders to tackle criminal networks that employ the "brightest and best" to evade controls, said Jennifer Shasky Calvery, who joined HSBC last year after serving as director of the U.S. Treasury Department's Financial Crimes Enforcement Network, or FinCEN, since 2012. Shortly after agreeing to pay $1.9 billion to the U.S. Justice Department...

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