HSBC has reported itself to Australia's financial regulator for possible breaches of anti-money laundering rules, the bank disclosed in a ...
HSBC has reported itself to Australia's financial regulator for possible breaches of anti-money laundering rules, the bank disclosed in a regulatory filing by its Australian subsidiary.
The breaches involved small amounts of cross-border foreign currency transactions involving non-banking financial institutions that the London-headquartered bank was unable to properly report for technical reasons, HSBC said.The 2019 annual report of HSBC's Australian subsidiary said it had flagged the potential breaches to AUSTRAC, a government agency that combats money laundering and financial crime.
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