hsbc

HSBC's Mexican business has been fined $27.5m for failing to comply with anti-money laundering regulations.

The European Commission has cracked down on the fixing of interest rates in the latest twist to the LIBOR scandal, which has dominated headlines in recent weeks.

Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.

HSBC has apologised to the US Senate after the bank was found to have allowed drug money to be laundered through its accounts.

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

A US Senate investigation has uncovered how a "pervasively polluted" culture at HSBC and lax controls left it open to being used to launder dirty money from around the world.

HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

UK banking giant HSBC is planning to apologise to the US Senate following an investigation earlier this year into money laundering.

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.