Which bank was fined a record $1.9bn by US authorities for money-laundering in Dec 2012?
Money laundering significantly. During 2011–2015 a number of major banks faced ever-increasing fines for breaches of money laundering regulations. This included HSBC, which was fined $1.9 billion in December 2012, and BNP Paribas, which was fined $8.9 billion in July 2014 by the U.S. government. Many countries introduced or strengthened border controls on the amount of cash that can be carried and introduced central transaction reporting systems where all financial institutions have to report all financial transactions electronically. For example, in 2006, Australia set up the AUSTRAC system and required the reporting of all financial transactions. The conversion or transfer of property,
Danske Bank money laundering scandal Danske Bank money laundering scandal The Danske Bank money laundering scandal refers to the ongoing investigations and media attention on the Copenhagen-based Danske Bank's involvement in suspicious transactions by non-resident accounts between 2007–2015. It has been claimed to possibly be the largest money laundering scandal in the world. The total amount of suspicious funds has been quoted by sources as having been either $30 billion US dollars, $130 billion US dollars or up to $230 billion US dollars. The investigation is currently ongoing. Danske Bank is the largest bank in Denmark. The bank's local branch in Estonia, which was under