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Violation Tracker Individual Record

Company: HSBC Holdings plc
Current Parent Company: HSBC
Penalty: $187,500,000
Year: 2012
Date: December 11, 2012
Offense Group: financial offenses
Primary Offense: economic sanction violation
Mega-Scandal: Sanctions Violations
Violation Description: HSBC agreed to pay $187.5 million to the Manhattan District Attorney's Office in a deferred prosecution agreement settling allegations it transferred money from sanctioned foreign clients into the U.S. This was part of a $375 million settlement also involving the U.S. Department of Justice. The DA's original announcement cited only the $375 million amount but a later statement mentioned that the total was divided evenly between the agencies: (click here) The $375 million in turn was part of a larger $1.256 billion agreement with the federal government; see the Violation Tracker entry at (click here)
Level of Government: local
Action Type: agency action
Agency: Manhattan (NY) District Attorney
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
Private Lawsuit Resolution Type: settlement
Facility State: New York
Facility County: New York
Facility City: New York
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.