HSBC fined $85 million for UK anti-money laundering failings

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By Iain Withers LONDON (Reuters) – HSBC has been fined 64 million pounds ($85 million) by British regulators for failings in its anti-money laundering processes spanning eight years. The Financial Conduct Authority (FCA) said it had found that three key parts of HSBC’s transaction monitoring systems in Britain showed serious weaknesses over a period from March 31, 2010 to March 31, 2018. The fine comes amid a renewed crackdown by the regulator on money laundering failures. On Monday, HSBC’s domestic rival NatWest was fined 265 million pounds by a British court for failing to prevent the launde…

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