Wealth Management

HSBC’s private bank under investigation by Swiss and French authorities

Lender’s Swiss private banking arm hit by money laundering allegations in connection with ‘two historical banking relationships’

image
HSBC’s Switzerland private banking arm is under the microscope FABRICE COFFRINI/AFP via Getty Images

HSBC’s Swiss private bank is being probed by local law enforcement authorities in Switzerland and France over its involvement in alleged money laundering.

Newsletter Sign-up

Wealth Management

All the latest updates from private banking, family offices, discretionary fund management and more

Authorities are investigating potential offences related to “two historical banking relationships,” the UK lender said in a 30 July statement.

WSJ Logo