VIDEO: HSBC money laundering apology

(Reuters) - A Senate panel investigating breakdowns in money laundering prevention at British bank HSBC Holdings Plc will detail the findings of its inquiry at a hearing on July 17. The Senate Permanent Subcommittee on Investigations said in a scheduling announcement on Monday that a hearing will focus on how high-risk bank clients gained access to the U.S. banking system. The panel has been investigating HSBC for months as part of an effort by the Senate panel to probe shadowy money flows. ...

HONG KONG (Reuters) - HSBC plans to "acknowledge and apologize" for failing to spot and deal with money laundering within

Global banking giant HSBC Holdings will apologise to a US Senate hearing next week for failures in its anti-money laundering controls, a report said Wednesday.HSBC will tell lawmakers at the July 17 hearing that "unacceptable behaviour" has slipped through its monitoring systems, according to an internal memo quoted by Dow Jones Newswires.In the note sent to employees on Tuesday, the London-based lender's chief executive Stuart Gulliver said the Permanent Subcommittee on Investigations would expose weaknesses in the bank's money laundering controls.

A U.S. Senate panel investigating breakdowns in money laundering prevention at British bank HSBC Holdings Plc will detail the findings of its inquiry at a hearing on July 17. The U.S. Senate Permanent ...

HONG KONG (Reuters) - HSBC plans to "acknowledge and apologize" for failing to spot and deal with money laundering within the bank during a U.S.

HSBC plans to "acknowledge and apologize" for failing to spot and deal with money laundering within the bank during a U.S. Senate panel hearing next week, according to an internal memo sent by ...

(Reuters) - A Senate panel investigating breakdowns in money laundering prevention at British bank HSBC Holdings Plc will detail the findings of its inquiry at a hearing on July 17.