HSBC, Switzerland, Lebanon, Banking, Business, Europe Business | The Guardian
Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationshipsHSBC’s Swiss private banking arm breached money-laundering rules by failing to carry out adequate checks on the high-risk accounts of two politically exposed individuals, Switzerland’s banking regulator has found.HSBC Private Bank (Suisse) has been banned from taking on any new high-risk customers until it has completed a full review of its business relationships, Switzerland’s Financial Market Supervisory Authority (Finma) said. Continue reading…
Finma watchdog says bank failed to carry out adequate checks of two high-risk business relationships
HSBC’s Swiss private banking arm breached money-laundering rules by failing to carry out adequate checks on the high-risk accounts of two politically exposed individuals, Switzerland’s banking regulator has found.
HSBC Private Bank (Suisse) has been banned from taking on any new high-risk customers until it has completed a full review of its business relationships, Switzerland’s Financial Market Supervisory Authority (Finma) said.
