HSBC might pay US$1.8b over money laundering: sources

HSBC Holdings might pay a fine of US$1.8 billion as part of a settlement with US law-enforcement agencies over money-laundering lapses, according to several people familiar with the matter.

The settlement with Europe’s biggest bank - which could be announced as soon as next week - will likely involve HSBC entering into a deferred prosecution agreement with federal prosecutors, said the sources, who spoke on condition of anonymity.

via Business feed http://www.scmp.com/business/companies/article/1098823/hsbc-might-pay-us18b-over-money-laundering-sources