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HSBC money-laundering failings ‘unacceptable,’ UK FCA says as it imposes fine

By Fiona Maxwell and Martin Coyle ( December 17, 2021, 11:05 GMT | Insight) -- HSBC has been fined 64 million pounds, after a UK regulator found "serious weaknesses" in its automated processes to identify suspicious transactions. Gaps in its controls persisted for eight years despite attempts to remedy them, the FCA said.HSBC's British banking business had “unacceptable” failings in its anti-money laundering processes, the UK's financial markets watchdog said today as it fined the lender nearly 64 million pounds ($85 million)....

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