Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank charges: HSBC faces money laundering accusations

HSBC has been accused of money laundering and tax evasion in Argentina.

It is alleged that the bank has laundered 392 million pesos (£50 million) for its clients using fake receipts.

Head of the tax agency that filed the criminal charges against HSBC, Ricardo Echegaray, said that he hopes that the funds suspected to have been laundered can be recovered.

In a statement, a spokesperson for HSBC in Latin America said that the bank would cooperate with authorities in the investigation but did not deny the claims.

The bank was fined $1.9 million (£1.2 billion) when it was found guilty of money laundering in the US and Mexico.

Chief executive for HSBC, Stephen Gulliver, said that he intends to raise $1 billion this year to help make up for the fines received in 2012. The Financial Times reported this claim along with the bank’s suspected plans to cut around 5,000 jobs as cost-cutting measure.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801558570-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide