Wednesday, April 30, 2008
HSBC calls in police for €90 million fraud investigation
HSBC is the latest bank to be hit by attempted fraud. According to sources, police were called in to the Canary Wharf head office to remove two operations staff members on Friday April 25.
The alarm was raised when the main euro account at HSBC, which normally holds between €30 million and €1 billion, hit zero. Soon after, a single transaction moving €90 million from the account was traced back to within the ranks of the middle office department at the UK bank. Sources say that one person on the operations side...
You do not currently have access to this content. To gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe