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HSBC pays CHF 40m to close Geneva money-laundering investigation

Swiss police raided HSBC’s Geneva private bank after the Swiss Leaks revelations. HSBC then paid 40 million Swiss francs, the largest such sum ever paid in Geneva, to end the investigation.

CHF 40m

Settled

In February 2015, about 10 days after the International Consortium of Investigative Journalists (ICIJ), Le Monde and partners published the Swiss Leaks investigation, Swiss police raided HSBC’s private bank in Geneva.

In June 2015 HSBC agreed to pay 40 million Swiss francs, about $43 million at the time, to close the Geneva prosecutors’ investigation into alleged aggravated money laundering.

Prosecutors said the evidence pointed to “organisational failings” at the bank. Geneva’s Attorney General Olivier Jornot said the payment was the largest amount ever paid in Geneva. The settlement did not cover individual employees.

HSBC’s position

HSBC did not admit guilt and framed the payment as compensation for past organisational failings.

The evidence

3 sources
  1. Exhibit AHSBC to pay 40m Swiss francs to settle money laundering caseThe Irish Times (Reuters) · 4 June 2015 · irishtimes.com
  2. Exhibit BGeneva prosecutor drops HSBC probeSwissinfo · 4 June 2015 · swissinfo.ch
  3. Exhibit CSwiss probe ends as HSBC pays out £28mCity AM · June 2015 · cityam.com

Last checked 2 November 2026. Something wrong or out of date? Tell us and we’ll correct it.

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