The Federal Reserve said Thursday that it issued an order against HSBC North American Holdings Inc. requiring the bank to improve company-wide risk management, including practices to prevent money laundering.

It said that within 30 days, the bank’s board must submit a plan for strengthening oversight of its compliance risk-management program. The plan must show how risk is being managed within and across business lines, legal entities and jurisdictions in which the bank operates.

HSBC is also required to submit to the Fed a company-wide compliance risk assessment that contains recommendations for improving controls and provides an evaluation of its compliance risk exposure.

Last February, a senior U.S. senator said he was referring HSBC Holdings Plc to its U.S. bank regulator in connection with questionable accounts it provided for senior Angolan officials.

Sen. Carl Levin (D-Mich.), who chairs the Permanent Subcommittee on Investigations, said he was referring the issue to the Office of the Comptroller of the Currency, an arm of the Treasury, because he was concerned that tainted foreign money might be flowing into the United States.

This month, two clients of HSBC Holdings were convicted of failing to report more than $49 million in income to the Internal Revenue Service.

The two Miami Beach-based developers, Mauricio and Leon Cohen, used shell enterprises and offshore tax havens in the Bahamas and elsewhere to conceal assets and income.

Court documents said that among their crimes was failing to pay taxes on the sale of a New York hotel 10 years ago.

The proceeds from the hotel sale were transferred to a bank account at HSBC is Switzerland, and income from the sale was not reported on U.S. tax returns.