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HSBC: Swiss prosecutors launch inquiry following revelations bank turned "blind eye" to activities of arms dealers & helped people evade tax

"HSBC: Swiss bank searched as officials launch money-laundering inquiry" , 18 Feb 2015

Prosecutors in Geneva searched the premises of HSBC’s Swiss private banking subsidiary on Wednesday after launching an inquiry into suspected money-laundering activities at the bank. In a statement, prosecutors said the investigation into “suspected aggravated money laundering” was prompted by “the recent published revelations” about the private bank. The revelations, by the Guardian, the BBC, Le Monde and other media outlets, showed that HSBC’s Swiss banking arm turned a blind eye to illegal activities of arms dealers and helped wealthy people evade taxes.

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