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The Australian Securities and Investments Commission seeks a AUD 35 million fine against HSBC for failure in anti-fraud protections.
The Australian Securities and Investments Commission will join HSBC in requesting the Federal Court to rule that HSBC engaged in illegal conduct and impose a fine of 35 million Australian dollars. HSBC has admitted that, between May 2023 and May 2024, its internal transfer system had insufficient risk control measures, and there were significant delays in the investigation and handling of fraud cases. After an investigation by ASIC, HSBC launched a large-scale customer remediation and rectification program. As of now, HSBC has paid a total of approximately 21.5 million Australian dollars in compensation.
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Federal Reserve enters the "Waller era": concise statements, dot plot turns to rate hikes, and the Fed reshapes its hawkish image overnight
The Federal Reserve Enters the “Waller Era”: Streamlined Statements, Dot Plot Shifts Toward Rate Hikes, and the Fed Reshapes Its Hawkish Image Overnight
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