Decision Notice 2021: HSBC Bank plc

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Page 1 of 51 Decision Notice To: HSBC Bank plc Firm Reference Number: 114216 Address: 8 Canada Square, London, E14 5HQ Date: 14 December 2021 1. ACTION For the reasons given in this Notice the Authority has decided to impose on HSBC Bank plc ( HSBC ) a civil penalty of 63,946,800. HSBC agreed to resolve this matter and qualified for a 30% (stage 1) discount under the Authority s executive settlement procedures. Were it not for this discount, the Authority would have imposed a financial penalty of 91,352,600. 2. SUMMARY OF REASONS All authorised firms are required to have systems and controls in place to mitigate the risk that they might be used to commit financial crime.

“alert” in this Notice means a notification by a transaction monitoring system to indicate that a transaction violates one or more of the rules run against it which are then reviewed to determine whether there is potentially suspicious activity; “AML controls” means the controls used by HSBC to identify money laundering and

  Transactions, Suspicious