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Biggest money-laundering settlements by banks
Britain's biggest bank, HSBC, has settled a money-laundering probe by American authorities for $1.9 billion. The bank admitted that its money-laundering controls and compliance with sanction laws had been inadequate, according to The Economist.
Let's take a look at biggest money-laundering settlements with US authorities.
Source: The Economist
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Biggest money-laundering settlements by banks
HSBC
Settlement: $1.92 billion
Year: December 2012
Countries involved in allegations: Mexico, Iran, Cuba and Saudi Arabia
Settlement rank: 1
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Biggest money-laundering settlements by banks
Standard Chartered
Settlement: $667 million
Year: August/December 2012
Countries involved in allegations: Iran, Sudan, Libya and Myanmar
Settlement rank: 2
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Biggest money-laundering settlements by banks
ING
Settlement: $619 million
Year: June 2012
Countries involved in allegations: Cuba and Iran
Settlement rank: 3
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Biggest money-laundering settlements by banks
Credit Suisse
Settlement: $536 million
Year: December 2009
Countries involved in allegations: Iran, Sudan, Libya, Myanmar and Cuba
Settlement rank: 4
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Biggest money-laundering settlements by banks
RBS (ABN Amro)
Settlement: $500 million
Year: May 2010
Countries involved in allegations: Iran and Libya
Settlement rank: 5
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Biggest money-laundering settlements by banks
Llyods Banking Group
Settlement: $350 million
Year: January 2009
Countries involved in allegations: Iran and Sudan
Settlement rank: 6
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Biggest money-laundering settlements by banks
Barclays
Settlement: $298 million
Year: August 2010
Countries involved in allegations: Sudan, Iran, Myanmar and Cuba
Settlement rank: 7