Question: Please help me summarize this article and thoughts on it! 6 Safari File Edit View History Bookmarks Window Help a? 1 54%.- Mon8144PM Q 9

Please help me summarize this article and thoughts on it!

Please help me summarize this article andPlease help me summarize this article andPlease help me summarize this article andPlease help me summarize this article and
6 Safari File Edit View History Bookmarks Window Help \"a? 1 54%.- Mon8144PM Q 9 EE . O D V h ctccs.blackboard.com X + Players X HSBC North American Holdings, Inc.: parent company of HSBC Group, one of the world's largest banking and financial services groups. HSBC has more than 6900 offices in over 80 countries. HSBC Bank USA: federally chartered subsidiary of HSBC North American Holdings, Inc.; headquartered in Mclean, Virginia with its principal offices in New York City. HSBC Bank USA is the specific entity charged with violating the Bank Secrecy Act. 18 Eric Holder: United States Attorney General; publicly defended the decision not to criminally prosecute HSBC Bank USA executives. HSBC Bank USA Executives: Specifically those responsible for the lax monitoring programs and other negligence that violated the Bank Secrecy Act. HSBC Bank USA Employees: would lose their jobs if HSBC were forced to cease banking operations in the United States. The United States' (and possibly the global) economy: As stated by Attorney General Eric Holder, the national economy will suffer greatly if HSBC's U.S. banking charter is revoked. United States Department of the Treasury: As one of the regulators of HSBC Bank USA's financial affairs the Treasury is tasked with advising the Department of Justice on the economic effects of prosecuting HSBC. Office of the Comptroller: As the regulator of HSBC Bank USA's banking charter, the Comptroller can revoke HSBC Bank USA's banking privileges in the U.S. if its executives are prosecuted and convicted. Instruments Bank Secrecy Act (31 USC $5311): enacted by Congress to require banks and other financial institutions to create and maintain anti-money laundering programs and other practices to prevent terrorist financing and other financial crimes. In addition to internal programs and monitoring, the Bank Secrecy Act (BSA) also requires ongoing employee training and due diligence for foreign correspondent accounts. Deferred Prosecution Agreement: To avoid criminal prosecution for violations of the BSA, HSBC executives agreed to pay a $1.92 billion fine and comply with elevated monitoring standards for a probationary period of five years. Priva Events "tv 20 W ...6 Safari File Edit View History Bookmarks Window Help \"a? 1 54%.- Mon8144PM Q 9 EE . O ilIGEBIWQvW'EQ 0.5M}? If

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