Geneva Police Raid HSBC Offices, Launch Investigation Into Alleged Laundering Activities
Swiss police on Wednesday raided the Geneva offices of HSBC bank following an inquiry into the bank’s alleged money laundering practices. Prosecutors in Geneva said they are opening an investigation into the bank for suspected money laundering and illegal tax activity.
A statement from the prosecutor’s office reportedly said: “Following the recent revelations related to the HSBC Private Bank (Switzerland), the public prosecutor announces the opening of a criminal procedure against the bank.”
Prosecutors reportedly added that they could expand the inquiry “to include physical persons suspected of committing or participating in acts of money laundering,”
Nobody at the bank was expecting the raid, according to a report by The Financial Times, which cited