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JUDY WOODRUFF (Newshour): Now: The U.S. government brings its highest profile case yet of international money laundering against one of the world's biggest banks.
For years, American officials have sought and sometimes struggled to crack down on the practices. Today, the Departments of Justice and Treasury announced a settlement with HSBC.
The bank agreed to pay almost $2 billion in fines and penalties. It was charged with violating sanctions laws by conducting business with customers in Iran, Sudan, and Cuba. It was also party to helping them launder almost $900 million for Mexican drug cartels.
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