HSBC 'processed £435m of laundered Russian cash'

Barclays, Lloyds and Royal Bank of Scotland also reportedly caught up in 'Global Laundromat' scandal

HSBC London hq
(Image credit: Ben Stansall/AFP/Getty Images)

British bank HSBC has been accused of passing millions of pounds of transactions in a global money-laundering scandal with roots in Russian organised crime.

According to a report in The Guardian, it processed $545.3m (£437.3m) out of Russia between 2010 and 2014, mostly through its Hong Kong branch.

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