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Violation Tracker Individual Record

Company: HSBC Holdings plc HSBC Bank USA N.A.
Current Parent Company: HSBC
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $1,256,000,000
Year: 2012
Date: December 11, 2012
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Secondary Offense: economic sanction violation
Mega-Scandal: Sanctions Violations
Violation Description: HSBC Holdings plc and HSBC Bank USA N.A. agreed to forfeit $1.256 billion and enter into a deferred prosecution agreement with the Justice Department for HSBC's alleged violations of the Bank Secrecy Act, the International Emergency Economic Powers Act and the Trading with the Enemy Act.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.