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HSBC’s private bank under investigation by Swiss and French authorities

Wealth Management

Wealth Management Correspondent

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HSBC’s Swiss private bank is being probed by local law enforcement authorities in Switzerland and France over its involvement in alleged money laundering.

Authorities are investigating potential offences related to “two historical banking relationships,” the UK lender said in a 30 July statement.

Lender’s Swiss private banking arm hit by money laundering allegations in connection with ‘two historical banking relationships’

Kristen McGachey

Banking

Finance

Financial Regulation

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