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HSBC HK shares drop to lowest since 1995, StanChart falls after 'FinCen' leak

Reuters

Published
Modified 21 Sep 2020, 3:42 am

HSBC and Standard Chartered's Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

BuzzFeed News and other media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasury's Financial Crimes Enforcement Network (FinCen)...

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