HSBC Holdings plc — $375,000,000 OFAC penalty
OFAC published a $375,000,000 civil penalty against HSBC Holdings plc on 12/11/2012. It is the #8 largest action in OFAC’s 1,052-entry enforcement chart and #2 of the 16 actions published that year.
The record
| Entity, as published by OFAC | HSBC Holdings plc |
|---|---|
| Penalty / settlement amount | $375,000,000 |
| Date published by OFAC | 12/11/2012 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #8 of 1,052 |
| Rank within 2012 | #2 of 16 |
| Share of 2012 penalty total | 32.9% |
| Base penalty | $1,159,872,734 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Egregious |
| Sanctions programs named in the release | Iran, Cuba, Sudan, Zimbabwe, Libya |
Primary source
OFAC enforcement release: 121211_HSBC_posting.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2012 actions
- Standard Chartered Bank — $132,000,000
- ING Bank N.V. — $619,000,000
- Bank of Tokyo-Mitsubishi UFJ, Ltd. — $8,571,634
- Great Western Malting Co. — $1,347,750
- Online Micro, LLC — $1,054,388
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