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HSBC draws line under Mexican cartel case after five-years on probation | Reuters

'Under the deal, HSBC pledged to strengthen its sanctions and anti-money laundering controls. '

'Europe’s biggest bank paid a $1.9 billion fine and entered into the five-year deal in 2012 for failing to prevent Mexican drug cartels from laundering hundreds of millions of dollars. '

'LONDON (Reuters) - HSBC (HSBA.L) drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties. '

'HSBC shares rose 2.5 percent, the most among major European banks, as the STOXX European index of 600 lenders .SX7P rose by 0.28 percent. '

'Lax money laundering controls at HSBC allowed two cartels - one each in Mexico and Colombia - to move $881 million in drug proceeds through the bank over the second half of the last decade, according to documents in the case. '

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