In line with our ambition to be recognised as the world’s leading international bank, we aspire to set the industry standard for knowing our customers and detecting, deterring and protecting against financial crime. As international markets become more interconnected and complex, and as threats to the global financial system grow, we are strengthening further the policies and practices which govern how we do business and with whom.
We greatly value our reputation. Our success over the years is due in no small part to our reputation for trustworthiness and integrity. In areas where we have fallen short in recent years – in the application of our standards and in our ability to identify and so prevent abuse of the financial system through our networks – we have moved immediately to strengthen our governance processes and have committed to adopt and enforce the highest, financial crime compliance standards across HSBC.
We continue to reinforce the status and significance of compliance and adherence to our Global Standards by building strong internal controls, developing world-class capabilities through communication, training and assurance programmes to make sure employees understand and can meet their responsibilities, and redesigning core elements of how we assess and reward senior executives.
We see the implementation of Global Standards as a source of competitive advantage, allowing us to:
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strengthen our response to the ongoing threat of financial crime
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make consistent – and therefore simplify – the way we monitor and enforce high standards at HSBC
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strengthen policies and processes that govern how we do business and with whom
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ensure that we consistently apply our HSBC values
We expect Global Standards to underpin our business practices now and in the future. Initially, we are concentrating on transforming how we detect, deter and protect against financial crime. We are implementing a more consistent approach to assessing financial crime risk to help protect our customers, our employees and the financial system.
HSBC's 2012 settlement agreements with the US and UK authorities
In December 2012, HSBC reached agreements with the US and UK authorities regarding our past inadequate compliance with anti-money laundering and sanctions laws. Read the press release HSBC announces settlements with authorities.
Related documents are also available at the website of the US Department of Justice.
HSBC Group Anti-Money Laundering Policy Statement
Read about HSBC's Global Anti-Money Laundering Programme, which aims to ensure that money laundering risks identified by the bank are appropriately mitigated.
Download the HSBC Group Wolfsberg Anti-Money Laundering Questionnaire (7-page PDF 153KB)
HSBC Group Sanctions Policy Statement
HSBC is committed to complying with all applicable sanctions laws and regulations. Find out more about our Global Sanctions Policy.