HSBC warned by British regulator over weak fraud and staff controls
LONDON (Reuters) - HSBC has been told by the Bank of England to tighten up compliance controls for fraud, staff conduct and other non-financial risks, a source close to the bank said on Thursday. Prudential Regulation Authority regulators had highlighted the weaknesses and HSBC executives will discuss ways to address them at a forthcoming meeting, the source told Reuters, confirming an earlier report by Bloomberg. Samir Assaf, HSBC's global banking and markets division head, told senior bankers on a conference call on Tuesday of the issue, said the source, adding the weaknesses had been identified during routine regulatory work.
LONDON (Reuters) - HSBC
Prudential Regulation Authority regulators had highlighted the weaknesses and HSBC
Samir Assaf, HSBC's global banking and markets division head, told senior bankers on a conference call on Tuesday of the issue, said the source, adding the weaknesses had been identified during routine regulatory work.
HSBC has been dogged by compliance problems, with the most high profile scandal involving helping Mexican drug cartels launder money, leading to a $1.9 billion U.S. settlement in 2012.
A Department of Justice deferred prosecution agreement ended five years later, after HSBC invested hundreds of millions of dollars in compliance measures.
The PRA compliance issue adds to HSBC interim chief executive Noel Quinn's workload as he begins a costly overhaul to address sluggish European and U.S. performances.
(Reporting by Iain Withers; Editing by Alexander Smith)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
ANKARA (Reuters) - Turkey's daily death toll from the coronavirus hit a record high of 141 on Friday, according to data from the Health Ministry, as the country braced for nationwide measures amid a surge in cases in recent weeks. The data showed 5,103 new COVID-19 patients were recorded in the country, while the overall death toll rose to 12,084. Since July, Ankara has only reported symptomatic COVID-19 patients, a move critics say hides the true scale of the outbreak.
TBILISI (Reuters) - A gunman has released unharmed all nine hostages he had taken at a microfinance organisation in the Georgian capital Tbilisi on Friday, police said. According to preliminary information, the gunman was not demanding a ransom but had some social demands, including lower prices for medicines
By Matthias Williams KYIV (Reuters) - Thousands of people silently raised their arms in the air, held flowers aloft and broke into chants outside a church in Minsk on Friday at the funeral of a Belarusian protester. The death of 31-year-old Roman Bondarenko has become a flashpoint in months-long mass protests against President Alexander Lukashenko. Witnesses said Bondarenko was detained after a scuffle with people in plain clothes who came to a playground to remove red-and-white ribbons representing the protest movement