Bloomberg News

HSBC Makes $800m Provision for U.S. Money-Laundering Probes

November 05, 2012

HSBC Holdings Plc (HSBA) said it had set aside an additional $800 million to settle U.S. regulatory probes into potential money laundering.

The bank could face corporate criminal charges and the fine could be “significantly higher” than the $1.5 billion in total that has been provisioned so far, HSBC said in a statement today.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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