Ben Lazimy was fired by HSBC for sending client data to his personal Yahoo Mail in 2010. He sued the bank for unfair dismissal. Since Herve Falciani's case, HSBC has been very protective to its data.
A U.S. judge has agreed to delay the release of a report that says HSBC Holdings Plc "moved too slowly" to enhance its anti-money laundering compliance program.
Citigroup Inc. is now included in the investigation regarding FIFA's recent scandal. The company together with other banks will be placed under the microscope as authorities try to find relevant information.
HSBC may find itself in a dire situation after a Federal Judge ordered to have the bank's money laundering report shown in public. The report allegedly contains sensitive information that may indict the London-based bank.
HSBC has been sued by US citizens whose relatives were murdered by drug gangs. Under the US Anti-Terrorism Act, they claim that the London-based bank allowed the Mexican drug cartels launder billions of dollars for their business operation.
While Tyga is known for wearing flashy clothes and posting about his belongings in various social media account, reports say that the rapper actually filed for bankruptcy back in January 2011 so he can avoid paying $500,000 in rent dues.
HSBC finds itself in hot water as a court petition by one account holder to release the report on its money-laundering activities in 2012, which had resulted in a $1.9 billion fine. At the same time, it dodged formal government inquiry over allegations that it had been helping its immensely wealthy clients avoid paying tax.
Toronoto, Canada has been added to the list of potential sites for the rumored relocation of HSBC's headquarters. The list also includes New York, and Hong Kong, which are also strong candidates for the relocation.
Investors have recovered more than $2 billion in settlements with nine banks over claims of price-rigging in the foreign exchange market, and are continuing to pursue claims against seven other banks, a lawyer for the plaintiffs said Thursday.
The parent companies or main banking units of as many as five major banks, rather than their smaller subsidiaries, are expected to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, people familiar with the matter said.
Herve Falciani, a former HSBC (HSBA.L) employee who leaked information on the bank's clients and tax situation, told Spanish newspaper El Mundo he had knowledge of other cases and could act again, adding his "work was not done".
The global financial system is safer but there is no room for complacency because of concerns about the international bond market, Financial Stability Board Chairman Mark Carney said on Thursday.
The National Credit Union Administration Board filed suit against HSBC Bank USA, alleging it did not fulfill trustee duties for 37 residential mortgage-backed securities trusts, the group said on Friday.
Britain's newest and most powerful financial regulator has pledged to introduce "meaningful" change this year to help new banks steal market share from the "Big Five" lenders who dominate in commercial and retail banking.
Barclays has been providing information to an investigation into precious metals by the U.S. Department of Justice (DoJ), the bank said in its 2014 annual report on Tuesday, a week after a similar statement by HSBC.
The U.S. Department of Justice and the Commodity Futures Trading Commission are investigating at least 10 major banks for possible rigging of precious-metals markets, the Wall Street Journal reported, citing people close to the inquiries.
HSBC Holdings Plc has set aside $550 million more to cover potential fines for alleged manipulation of foreign exchange markets and warned it could face a $500 million bill to compensate U.S. customers sold debt protection products.
One of Britain's most storied newspapers has been accused of self-censoring for commercial gain, raising awkward questions about a centuries-old press culture which has prided itself on its no-holds-barred approach to truth telling.
HSBC apologized to customers and investors on Sunday for past practices at its Swiss private bank after allegations that it helped hundreds of clients to dodge taxes.
France's finance minister said on Friday Paris had not restricted the use of HSBC (HSBA.L) client data it passed on to UK authorities to help pursue tax evaders, contradicting comments by a senior British official.
