Tillipman and Block: Have $4.8 billion in penalties deterred HSBC?


According to Good Jobs First’s “Violation Tracker," since 2000, HSBC has accrued $4.8 billion in penalties in 23 criminal and civil enforcement actions.



Richard L. Cassin Publisher and Editor
Jessica Tillipman Senior Editor
Elizabeth K. Spahn Editor Emeritus
Cody Worthington Contributing Editor
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Thomas Fox Contributing Editor
Marc Alain Bohn Contributing Editor
Bill Waite Contributing Editor
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Russell A. Stamets Contributing Editor
Richard Bistrong Contributing Editor
Eric Carlson Contributing Editor
Bill Steinman Contributing Editor
Aarti Maharaj Contributing Editor
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According to Good Jobs First’s “Violation Tracker," since 2000, HSBC has accrued $4.8 billion in penalties in 23 criminal and civil enforcement actions.
South Africa President Jacob ZumaThe UK Serious Fraud Office may review whether HSBC and Standard Chartered helped launder money linked to a South Africa corruption scandal, the BBC reported Thursday.
The use of corporate monitors by judicial and regulatory government agencies to verify an organization’s compliance with settlement agreements and orders resolving corporate accountability continues to rise. The growing use of monitors has raised questions about the privacy of their reports and the public’s access to their findings.
HSBC CEO Stuart Gulliver opened an account at the bank's Swiss affiliate in the name of a Panama-based company while he was based in Hong Kong.
Regulators in the United States, Britain, and Switzerland penalized five banks $3.3 billion for rigging foreign-exchange benchmarks.
A customs official at the Qingdao port that's under investigation for commodity financing fraud was found dead last week from "unnatural causes."
Job Title: Financial Crime Compliance Manager
Employer: HSBC
Location: Hong Kong
Boards of directors in global companies are showing an increased interest in establishing financial crime committees and hiring notable experts to advise them.
Job Title: Regional Head of Financial Crime Compliance Retail Banking Wealth Management, Asia-Pacific
Employer: HSBC
Location: Hong Kong
Job Title: Senior Vice President, Monitoring for Regulatory Compliance & Financial Crime Compliance
Employer: HSBC
Location: Singapore