HSBC, StanChart shares fall too 22-year lows over dirty money scandal

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Media report they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags

COVID-19 sparked a dividend drought for investors. But it may be hurting pensioners more than Wall Street fat cats

StanChart said in a statement it took its “responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programs.” “We have devoted significant resources to strengthening our controls and we are very focused on meeting our responsibilities and obligations,” a spokesperson for the bank said.Article content continued

The ICIJ reported the leaked documents were a tiny fraction of the reports filed with FinCEN. HSBC and StanChart were among the five banks that appeared most often in the documents, the ICIJ reported.

 

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