• News Feeds
Page last updated at 10:05 GMT, Friday, 9 November 2012

Peston: HSBC suffering severe reputational damage

HSBC bank says it is looking into allegations that criminals have used offshore accounts at its Jersey operation for money laundering.

The bank issued a statement after the Daily Telegraph newspaper said it was at the centre of a major investigation by HM Revenue and Customs.

HSBC said it was investigating "an alleged loss of certain client data in Jersey as a matter of urgency".

The BBC's business editor Robert Peston told Today presenter John Humphrys that HSBC "accept that they got a lot wrong over the past few years all round the world… but they don't think necessary they will emerge from this investigation as being shown to be particularly lax in their controls".

However he went to point out: "There is no doubt that HSBC is suffering pretty severe reputational damage."

Get in touch with Today via email , Twitter or Facebook or text us on 84844.

Story Tools


Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific