Mexico fines HSBC $27 million for breaches to rules
HSBC México, the local unit of the British-based bank at the center of a money laundering inquiry in the United States, paid a total of $28 million in fines to Mexico's financial authorities.
The fines were imposed for failure to meet regulations on prompt reporting of unusual transactions, some of which might have been used by drug gangs.
HSBC admitted to it failure to meet the standards required by the authorities and provided an apology.
Full story (in Spanish)