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Swiss Regulator Says HSBC Violated Money Laundering Regulations

Swiss Regulator Says HSBC Violated Money Laundering Regulations

Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution’s banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release. “HSBC Private Bank...