HSBC pays UK£0.3m in Isle of Man for not stopping payments

The Isle of Man branch of HSBC has been ordered to pay a civil penalty of UK£293,930 (US$352,520) to the Isle of Man Financial Services Authority for unauthorised payments from accounts blocked over proceeds of crime concerns.

The Isle of Man branch of HSBC has been ordered to pay a civil penalty of UK£293,930 (US$352,520) to the Isle of Man Financial Services Authority (FSA) for unauthorised payments from accounts blocked over proceeds of crime concerns.