hsbc 02City watchdog investigating HSBC over potential financial crime, bank reveals

 

This is a theguardian.com article.

 

Evidence uncovered last year triggered FCA action as bank announces a 62% decrease in profits.

The City regulator is investigating HSBC over potential breaches of money laundering rules after concerns raised last year by the anti-crime monitor installed in Britain’s biggest bank.

The bank did not disclose the specific concerns raised by the American lawyer Michael Cherkasky, who was appointed as the monitor five years ago. He is reported to have raised concerns about clients with links to terrorism, including Isis.

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