Violation Tracker Individual Record

Company: 
HSBC Holdings plc HSBC Bank USA N.A.
Current Parent Company: 
HSBC
Penalty: 
$1,256,000,000
Primary Offense: 
anti-money-laundering deficiencies
Secondary Offense: 
economic sanction violation
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.

Year: 
2012
Date: 
December 11, 2012
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
deferred prosecution agreement
HQ Country of Parent: 
Britain
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.