The recent crisis in Cyprus threw the spotlight on its reputation as a haven for money launderers. Now, some dodgy investors with money its banks have taken a hit. Where can they turn now to shelter their ill-gotten goods?
The British bank HSBC is to pay almost $2 billion to U.S. authorities to settle a case over money-laundering and sanctions busting. The penalty is the biggest in the history of U.S. banking regulation.
