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Swiss Prosecutors Raid HSBC Subsidiary

Geneva prosecutors have raided the Swiss office of the British banking giant HSBC and announced a criminal investigation into accusations it was laundering money. The raid was taking place at the offices of HSBC Private Bank Switzerland, according to a statement released Wednesday by Geneva's prosecutor. Prosecutors said they were investigating criminal charges of "aggravated money laundering" against the bank, but stressed the probe could be broadened to include...

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