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Cultura

HSBC to pay $43 million in Geneva money laundering probe


    ZURICH/GENEVA (Reuters) - HSBC said on Thursday it had agreed to pay Geneva authorities 40 million Swiss francs ($43.02 million) to settle an investigation into allegations of aggravated money laundering at its Swiss private bank.

    The bank said in a statement that the payment was compensation to local authorities for past organizational failings and that no criminal charges would be filed.

    In February, Geneva's public prosecutor searched HSBC's lakeside Swiss office as part of its probe.

    (Reporting by Joshua Franklin in Zurich and Stephanie Nebehay in Geneva; Editing by Noah Barkin)