HSBC fined £64m for failures on anti-money laundering. Crypto | 🛡Crypto Avengers Announcements
HSBC fined £64m for failures on anti-money laundering. Crypto bad; banks good.
HSBC has been hit with a £64m fine and sharply criticised by UK regulators for "Serious weaknesses" in its anti money laundering controls over an eight-year period.
The Financial Conduct Authority said that, between March 2010 and March 2018, HSBC had a string of AML failures.
"More recently, as the FCA recognised, HSBC has made significant investments in new and market-leading technologies that go beyond the traditional approach to transaction monitoring. HSBC is deeply committed to combating financial crime and protecting the integrity of the global financial system."
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