HSBC, StanChart shares fall to 22-yr low on reports of illicit money flows

Topics HSBC | StanChart | BuzzFeed


By Alun John, Sumeet Chatterjee and Lawrence White HONG KONG/LONDON (Reuters) - HSBC's shares in Hong Kong and Standard Chartered's in London fell on Monday to their lowest since at least 1998 after media reports that they and other banks, including Barclays and Deutsche Bank, moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

The BuzzFeed and other media articles were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms.

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