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HSBC Holdings Fears Fines Exceeding $1.5 Billion in United States Money Launder Scandal

HSBC Holdings, Europe’s largest bank, has expressed concerns that fines from its money laundering scandal in the United States could top $1.5 billion after a report from the US congressional Permanent Subcommittee on Investigations found that the bank had a culture of corruption and complicity in narcotics funds trafficking. [Reuters UK]

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