HSBC under investigation for money laundering, again
The BBC has reported that HSBC, which was hit with a US fine for money laundering last year, is facing fresh accusations of illegal activity in Argentina.
According to the BBC, Argentina has alleged that the bank used "fake receipts" to facilitate money laundering and tax evasion, and launder 392m pesos ($77m; £50m).
The country's tax authority said it had filed criminal charges against HSBC.
"On the basis of what's been investigated so far, in six months we've recorded 392 million pesos in fraudulent transactions, generated by evasion and money laundering," said Ricardo Echegaray, head of Argentina's tax agency.
Mr Echegaray added that HSBC also helped clients evade taxes on an additional 224m pesos.
Last year, HSBC agreed to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.
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