Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Transformative Technology: Desktop Virtualization in Government
- Value of Health IT
Shows & Panels
UK regulator steps up compliance rules for HSBC
Tuesday - 12/11/2012, 1:39pm EST
LONDON (AP) - Britain's financial regulator says it is taking steps to force HSBC to improve its legal compliance after the bank agreed to pay $1.9 billon to settle a U.S. money laundering probe.
The Financial Services Authority said Tuesday that HSBC must establish a board committee with a mandate to oversee matters relating to anti-money laundering and terrorist financing.
It also said it has required HSBC to appoint a group money laundering officer approved by the regulator to ensure that the company complies with all anti-money laundering requirements.
HSBC agreed to a record settlement with U.S. authorities on Tuesday over a probe in connection with the laundering of money from drug traffickers in Mexico.
The U.S. government also alleges that HSBC intentionally allowed prohibited transactions with Iran, Libya, Sudan and Burma.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)