HSBC sets aside billions for fines
HSBC has set aside $2 billion (c. £1.3 billion) for fines, compensation claims and costs, though that still pales in comparison to the bank's first-half pre-tax profit, which exceeded £8 billion.
British bank HSBC intentionally broke American sanctions on Iran and other countries while also laundering Mexican drug money, the US on Wednesday said, as the banking major was to pay USD 1.92 billion to settle the allegations.