HSBC Holdings plc on Thursday said it was keen to study the opportunities available in the Indian insurance sector, including pension fund.
Daniel Wager, who helped investigate HSBC for the federal agency, joined the HSBC's anti-money laundering team last November as a senior vice-president.
HSBC has acknowledged compliance lapses, including a failure to maintain an effective anti-money laundering programme.
The potential settlement, which has been in the works for months, is emerging as a test case for just how big a signal US prosecutors want to send to try to halt illicit flows of money moving through US banks.
HSBC Mexico said it paid a 'fine imposed by the National Banking and Securities Commission (CNBV), amounting to MXN 379 million (about $27.5 million), in connection with non-compliance with anti-money laundering systems and controls, including reporting requirements with regard to unusual transactions, as well as other prudential regulations.'
The bank believes that that gold prices will recover this year and retain a pronounced bullish posture.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
HSBC admitted to a breakdown of controls and apologised in a statement announcing it had reached a deferred-prosecution agreement with the US Department of Justice, as was first reported by Reuters last week.
In the US, it is obligatory for any citizen to provide details regarding any financial transaction he or she may have carried out overseas.
India may have provided the fodder to the US tax evasion probe on some clients of HSBC Holdings, with respect to their accounts in the sub-continent nation, according to a finance ministry source.
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
The US on Friday issued orders to ban popular Chinese social media apps TikTok and WeChat from Sunday to safeguard national security, weeks after India banned them, saying they were prejudicial to sovereignty, integrity and security of the country.
Global banking giant HSBC on Monday said Infosys chief mentor N R Narayana Murthy will join its board in May with an annual renumeration of 65,000 pounds (about Rs 52 lakh).
Financial services giant HSBC on Tuesday opened its fifth group service centre in India, to provide superior services to its customers worldwide.
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
Some other tax authorities are looking at the allegations.
After investing $150 million this year, HSBC is willing to step up investments in India as it expects the economy to sustain over 7 per cent growth in the coming years.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
Uruguayan soccer player Diego Forlan on Monday denied evading taxes by hiding money in Swiss accounts with the British bank HSBC Holdings PLC.
An estimated 10,000 to 20,000 jobs will be axed, according to a media report
Delaying action on climate change will hurt growth: Global CEOs.
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
Apple Pay will be available in 250,000 locations across the UK.
Shares of most European banks are down significantly.
Swiss police in February searched HSBC offices in Geneva as part of its probe.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances