HSBC caught in terrorism and money laundering scandal

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Evidence uncovered in 2016 has led to an FCA investigation into HSBC over potential breaches of money laundering regulations and terrorist financing. The evidence was made known after concerns raised last year by the anti-crime monitor installed in the online banking systems. The UK’s largest bank failed disclose the specific concerns raised regarding several high risk clients that hold links to terrorism, including Isis, which if found to be true could be crippling for the financial institution as a brand for ethical and morality reasons.