The 'sword of Damocles' over HSBC - being a conduit for drug money and violations of sanctions

Department of Justice's Criminal Division, announced an agreed a settlement with the UK bank, in which HSBC will pay $1.9bn and receive a "deferred" criminal prosecution.

"The record of dysfunction that prevailed at HSBC for many years was simply astonishing," said the Head of the US Department of Justice's Criminal Division ... READ MORE

Released by the Financial Times - 12 December 2012