LONDON (Alliance News) - The offices of HSBC's subsidiary in Geneva are being searched by Swiss police under an inquiry into alleged money-laundering, the BBC reported on Wednesday.
According to the report, prosecutors are investigating HSBC Private Bank (Suisse) SA and "persons unknown for suspected aggravated money laundering".
Citing a statement, the BBC said the prosecutors' investigation could be "extended to people suspected of committing or participating in money laundering".
HSBC Holdings PLC shares were up 0.5% at 605.80 pence on Wednesday.
By Samuel Agini; email@example.com; @samuelagini
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