HSBC Hong Kong shares plunge to 1995 levels following 'FinCEN Files' leak

clock • 2 min read

HSBC's shares dropped to their lowest value in 25 years on the Hong Kong stock exchange this morning, following reports that the bank had continued to allow fraudsters to transfer millions of dollars after HSBC had discovered the Ponzi scheme scam. The reports follow the leak of the so-called FinCEN Files, a leak of 2,657 documents mostly consisting of Suspicious Activity Reports (SARs)  The files were obtained by Buzzfeed which shared them with the International Consortium of Investigative Journalists (ICIJ). Fergus Shiel, of the ICIJ, told the BBC the FinCEN papers are an "insight i...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.