The offices of HSBC bank in Geneva have been raided by Swiss prosecutors. They said they were investigating the bank and “persons unknown for suspected aggravated money laundering.”
HSBC said it was, “co-operating with the Swiss authorities.”
The action by the prosecutors comes more than a week after allegations first emerged in a leaked document that HSBC’s Swiss private bank may have helped wealthy clients avoid tax.
The allegations have caused a political storm in the United Kingdom over who knew what and when.
Last week the bank admitted it was “accountable for past control failures,” but said it had now “fundamentally changed”.