HSBC slapped with fine following failings in Mexican division

Shamed banking giant HSBC has been hit with a fine amounting to around 27.5m dollars which was imposed by the National Banking and Securities Commission (CNBV) in relation to the bank's non-compliance with anti-money laundering systems and controls.

Shamed banking giant HSBC has been hit with a fine amounting to around 27.5m dollars which was imposed by the National Banking and Securities Commission (CNBV) in relation to the bank's non-compliance with anti-money laundering systems and controls.

The fine was for the late reporting of 1,729 unusual transactions, the failure to report 39 unusual transactions, and 21 administrative failures within its Mexican division.

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