The Geneva branch of the British banking giant HSBC said to have hoarded for years black money for tax evaders and other criminals. Now determines the judiciary.

Following the reports of questionable financial practices of the Geneva Justice has opened against the Swiss subsidiary of the British bank HSBC, a method for suspected serious money laundering. The prosecutor of the canton advised that it had been taken after the recent revelations investigations into serious money laundering against HSBC Private Bank. Subject of the proceedings had both the bank itself as well as individuals. On Wednesday there had been with the company in Geneva a search warrant, the authority said.

The Geneva branch of the British financial institution should accordingly years have done business with tax evaders and other criminals. Among these weapons sellers and traders of blood diamonds are. The revelations go back to the former HSBC employees Hervé Falciani, who had stolen in 2007 extensive customer data of the Swiss subsidiary and in 2009 handed over to the French tax authorities.

The Swiss branch had distanced itself after the revelations of the criticized practices. Since 2008, the bank had made ​​a radical restructuring, to prevent their service for tax evasion and money laundering was being used, said the head of the Swiss HSBC, Franco Morra. New managers had the business practices revised and closed accounts of dubious customers.

To the newly implemented procedures, the Bank initially did not comment. “I can not comment on it,” said a spokesman in Geneva.