HSBC 'not making enough progress in tackling financial crime'

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As Britains biggest bank reported profits of 13.2bn, it disclosed that the official monitor had refused to sign off on the banks efforts to improve compliance HSBC has been warned by the US authorities that it is being too slow to tackle financial crime, with an official monitor installed at the bank after a money laundering scandal four years ago raising significant concerns. As Britains biggest bank reported profits of 13.2bn ($18.8bn) for 2015, it disclosed that the monitor refused to sign off on the groups progress in toughening up its procedures to avoid a rerun of the 2012

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