Asian regulators bare teeth in anti-money laundering enforcement

Financial institutions in the region are feeling the heat from increasingly aggressive regulatory actions following landmark AML cases involving Hong Kong and Chinese banks

9 minute read January 15, 2018 at 02:46 AM

Katherine Jo

Back in 2012, British banking giant HSBC agreed to pay a record $1.92 billion settlement after a broad investigation by U.S. federal and state authorities found it to have violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan, and Burma.

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