HSBC stock at lowest since 1995 on money laundering suspicions

New Delhi, Sep 21 (IANS): HSBC's share price fell to its lowest level since 1995, following allegations of money laundering and fears of another lockdown in Europe.

Several banks also fell in trade in London on these allegations which hurt markets globally. UK shares were down sharply amid fears of further Covid-related restrictions.

BBC reported that in 2013 and 2014, the banks allowed fraudsters to transfer millions around the world, even after it had learned of their scams, leaked secret files show.

HSBC says it has always met its legal duties on reporting such activity.

On Monday in Hong Kong, the shares fell more than 5.3 per cent to close at HK$29.30. In London, they fell by a similar amount.

BBC said leaked documents from the US Financial Crimes Enforcement Network (FinCEN), involving about $2tn of transactions, have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world.

The report said shares in rival banks named in the papers have also been hit. At lunchtime, Standard Chartered and Barclays were down by 5 per cent and 6 per cent, respectively, while Germany's Deutsche Bank was down by 8 per cent.



Title : HSBC stock at lowest since 1995 on money laundering suspicions


You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.

Security Validation

Enter the characters in the image