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HSBC Hammered With Unprecedented Fine

Jeffrey Katz

You do the crime, you pay the fine.

And in this case, the fine is no joke: British banking giant HSBC, Europe’s biggest bank, is set to pay $1.9 billion to settle accusations that it didn’t do enough to stop money laundering in its branches. The U.S. government announced the settlement yesterday, Dec. 11, 2012.

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