UPDATED 12:34 PM EST, December 11, 2012
NEW YORK (AP) — British bank HSBC has agreed to pay $1.9 billion to settle a New York based money-laundering probe.
The announcement was made Tuesday by Assistant Attorney General Lanny A. Breuer and U.S. Attorney Loretta A. Lynch in Brooklyn.
The Justice Department says HSBC violated the Bank Secrecy Act in connection with the laundering of money from narcotics traffickers in Mexico.
