LONDON, Dec 10 (Reuters) - HSBC has appointed a former head of the U.S. Treasury’s Office of Foreign Assets Control (OFAC) as the UK bank’s financial crime compliance chief, in a new role that will include supervising against money laundering.
HSBC, Europe’s biggest bank, said on Monday Bob Werner is to become head of group financial crime compliance and group money laundering reporting officer (MLRO). Werner joined HSBC in August.
HSBC is this week expected to pay a fine of $1.8 billion as part of a settlement with U.S. law-enforcement agencies over money-laundering lapses, sources have told Reuters. It relates to breaches of anti-money laundering controls in Mexico and other violations.