British officials disclosed plans Thursday to require banks to screen their customers against a list of undocumented immigrants as part of a broader initiative to reduce unlawful migration.
The newly elected Tory government wants to empower the United Kingdom's Charity Commission to close down groups that "misappropriate funds towards extremism and terrorism" as part of its efforts to combat terrorism.
British lawmakers Monday sharply criticized HSBC’s leadership for failing to prevent widespread tax evasion by clients and take responsibility for the institution’s compliance lapses.
Facing parliamentary criticism, HSBC's top executives conceded Wednesday to "unacceptable" failures of its Swiss private banking unit that led to likely account abuses and subsequent reputational damage.
The U.K. is considering a money laundering investigation of HSBC's Swiss operations in light of recent allegations that the bank maintained accounts for financial criminals, a British official said Wednesday.
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