Feds and state prosecutors probing whether HSBC transferred money through Iran, Sudan, and North Korea

Prosecutors investigating the movement of money by global banks suspect HSBC of laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, according to federal authorities with direct knowledge of the investigations.

The federal and state prosecutors are also investigating whether HSBC flouted United States law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.

Read on.

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