IBN7 news:
HSBC's staff in India has come under the scanner for deficiencies in its role as "offshore reviewers" of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
A probe by the US Senate's Permanent Subcommittee on Investigations found that HSBC's Anti-Money Laundering (AML) Compliance Department, which included employees in India, was highly inadequately staffed.
 Besides, deficiencies were found in the quality of the work done by HSBC's "offshore reviewers in India", who were used for clearing a major backlog of suspected transaction alerts at the bank.
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