Fox Business Flash top headlines are here. Check out what's clicking on FoxBusiness.com.
HONG KONG - HSBC HSBA.L and Standard Chartered's STAN.L Hong Kong shares fell on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.
Continue Reading Below
BuzzFeed and other media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCen).
GLOBAL BANKS SCRUTINIZE HONG KONG CLIENTS FOR PRO-DEMOCRACY TIES: SOURCES HSBC shares in Hong Kong 0005.HK fell as much as 4.4% to HK$29.60, the lowest since May 1995, while StanChart 2888.HK was down as much as 3.8% to HK$35.80, the lowest since May 25 this year. The Hang Seng Index .HSI was down 0.4%.
HSBC headquarters is seen at the financial Central district in Hong Kong, China September 6, 2017. REUTERS/Bobby Yip
The SARs, which the reports said numbered more than 2,100, were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ) and other media organisations.
Stocks in this Article
$19.73
-0.41 (-2.04%)
HSBC and StanC were among the five banks that appeared most often in the documents, the ICIJ reported.
In a statement to Reuters on Sunday, HSBC said “all of the information provided by the ICIJ is historical.” The bank said as of 2012, “HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions.”
CLICK HERE TO READ MORE ON FOX BUSINESS
Standard Chartered said in a statement, “We take our responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programmes.”
Business - Latest - Google News
September 21, 2020 at 09:50AM
https://ift.tt/2FPpNtN
HSBC, Standard Chartered's reportedly moved large sums of illicit cash for 2 decades with no idea of money's origins: report - Fox Business
Business - Latest - Google News
https://ift.tt/2Rx7A4Y
Bagikan Berita Ini
0 Response to "HSBC, Standard Chartered's reportedly moved large sums of illicit cash for 2 decades with no idea of money's origins: report - Fox Business"
Post a Comment