The bank has been accused of exposing America’s financial system exposed to Mexican drug cartels and rogue nations such as Iran and Sudan, by failing to enforce US anti money-laundering laws.
HSBC is soon expected to reveal the full financial damage caused by the US money-laundering scandal, which had erupted early 2012.
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In its interim results in July 2012, HSBC had said that US$700 million charge was its best estimate of the aggregate amount of fines and penalties that are likely to be imposed in connection with these matters.
"There is a high degree of uncertainty in making this estimate, and it is possible that the amounts when finally determined could be higher, possibly significantly higher," the bank had said.
Meanwhile, HSBC is understood to have held further discussions with US regulators, which have prompted it to increase its estimate of the prospective fines.
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