HSBC to pay 40 mln Swiss francs in Geneva money laundering probe

June 4, 2015 12:44 PM

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ZURICH/GENEVA, June 4 HSBC said on Thursday it had agreed to pay Geneva authorities 40 million Swiss francs ($43.02 million) to settle an investigation into allegations of aggravated money laundering at its Swiss private bank.

The bank said in a statement that the payment was compensation to local authorities for past organizational failings and that no criminal charges would be filed.

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