HSBC was subject to further scrutiny of its activities after the Guardian and other publications revealed in 2015 that the bank’s Interest in HSBC , the UK 's biggest bank , rose by almost 2 % after the US Department of Justice said it would file papers to dismiss a deferred prosecution agreement ( DPA ) that had been suspended for five years . The DPA was imposed following allegations that HSBC 's lax controls had allowed money laundering to take place . As part of the investigation , US lawyer Michael Cohen monitored HSBC 's activities , and will continue to do so until July 2018 , while outgoing CEO Stuart Smith said the progress made at the bank meant it could combat fraud more effectively than five years ago .
Interest in HSBC , the UK 's biggest bank , rose by almost 2 % after the US Department of Justice said it would file papers to dismiss a deferred prosecution agreement ( DPA ) that had been suspended for five years . The DPA was imposed following allegations that HSBC 's lax controls had allowed money laundering to take place . As part of the investigation , US lawyer Michael Cohen monitored HSBC 's activities , and will continue to do so until July 2018 , while outgoing CEO Stuart Smith said the progress made at the bank meant it could combat fraud more effectively than five years ago .