Argentina slaps $6 mn fine on HSBC subsidiary
- Published: 17 Dec 2012 at 08.46
- Online news: World
Argentina slapped a 30 million peso ($6 million) fine on a local subsidiary of global banking giant HSBC for failing to report suspicious transactions, authorities said.
Argentina slapped a 30 million peso ($6 million) fine on a local subsidiary of global banking giant HSBC for failing to report suspicious transactions, authorities said.
Justice officials said that the fine had been levied against HSBC Bank Argentina SA for failing to disclose a three million dollar transaction by a bread bakers' association, in what regulatory officials said was a clear-cut case of money laundering.
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