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HSBC free of Mexican cartel case deferred prosecution agreement

Staff Writer |
HSBC said its deferred prosecution agreement with the U.S. Department of Justice has expired.

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This is marking an end to the threat of further punishment for lapses in its anti-money laundering controls.

HSBC said it has lived up to its commitments under the five-year deal signed in December 2012, under which it pledged to strengthen its sanctions and anti-money laundering controls.

Europe’s biggest bank entered into the five-year agreement and paid a $1.9 billion fine for failing to prevent Mexican cartels from laundering hundreds of millions of dollars through the bank.


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