Swiss Police search HSBC Bank’s Geneva Office

Swiss police searched HSBC bank’s office in Geneva as part of an inquiry into alleged money-laundering, a media report said Wednesday. Prosecutors said they were investigating “HSBC Private Bank (Suisse) SA and persons unknown for suspected aggravated money laundering”, BBC reported.

In a statement, they said the investigation could be extended to “people suspected of committing or participating in money laundering”. Franco Morra, the bank’s chief executive, said last week it had shut down accounts of clients who “did not meet our high standards”. The raid comes more than a week after allegations first emerged that the bank may have helped wealthy clients evade tax. (IANS)