HSBC Judge Approves $1.9B Drug-Money Laundering Accord

HSBC was accused of failing to monitor more than $670 billion in wire transfers and more than $9.4 billion in purchases of U.S. currency from HSBC Mexico, allowing for money laundering. The bank, Europe’s largest, agreed to pay a $1.25 billion forfeiture and $665 million in civil penalties under the settlement.