The Banker: Swiss and French authorities are probing HSBC’s Swiss private bank over alleged ML tied to embezzlement by Lebanon’s former central bank chief

The probe, started in early 2025, examines HSBC Private Bank (Suisse) SA and several individuals, following previous findings that HSBC failed to report $300 million in suspicious transactions between Lebanon and Switzerland. Swiss regulators have imposed restrictions on HSBC’s onboarding of politically exposed persons, which the bank is contesting…