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Bank HSBC probed for money laundering: report

HSBC

US prosecutors are looking into whether British bank HSBC was involved in laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, The New York Times reported Saturday.

 

HSBC to Cut 700 Jobs in U.K.

HSBC said that it is to cut around 700 jobs from its retail-banking operations in the U.K., ahead of major regulatory reforms that are set to affect the domestic industry's advisory business.

 

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