Recent events
Recent events tied to this brand in public sources.
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2021
FCA fines HSBC unit £64 million over AML failings
The Financial Conduct Authority fined a U.K. unit of HSBC Holdings £64 million after finding serious weaknesses in automated transaction-monitoring processes. The FCA said HSBC Bank failed to comply with money-laundering regulations between 2010 and 2018. HSBC said it was pleased to resolve the matter and had invested in new monitoring technologies.
2021
Bud's Goods sues HSBC over scam losses
Bud's Goods & Provisions sued HSBC Bank, alleging that the bank should have recognized suspicious transfers connected to a scam that cost the business more than $459,000. The lawsuit seeks damages, restitution and attorney's fees; the allegations are not presented as a court finding.