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HSBC Faces New Money Laundering Claims In Argentina

Tuesday, March 19, 2013 - 8:24 AMHSBC Trust Company - Details
Argentina has alleged that the bank used "fake receipts" to facilitate money laundering and tax evasion, and launder 392m pesos ($77m; £50m). The country's tax authority said it had filed criminal charges against HSBC. HSBC said that it would cooperate with the investigation, adding that the allegations were "of great concern". "We are committed to working cooperatively with authorities to ensure a thorough review and appropriate resolution of the matter," said Lyssette Bravo, a spokeswoman for HSBC. Last year, HSBC agreed to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.

BBC News - HSBC faces new money laundering claims in Argentina
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