U.S. regulators continue to find weaknesses in the way HSBC Holdings tries to prevent money laundering, according to people familiar with the matter, even after the British bank was forced to pay nearly $2 billion in penalties and invested millions in increasing its compliance…
…examiners from the Office of the Comptroller of the Currency have continued to find problems, two people familiar with the matter said. They said that the regulator told the bank late last year it has not seen enough improvement in the bank’s controls in its correspondent banking business, which processes transactions for financial institutions around the world, including HSBC units.
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