Jersey’s financial regulator said Tuesday it intends to investigate the anti-money laundering systems of HSBC Holdings PLC and allegations raised in media reports about the bank’s clients there.
The financial services commission for Jersey, a British Crown Dependency off the coast of Normandy, France, said Tuesday that there has been “widespread press speculation” about accounts operated by HSBC within its borders.
A report by the Daily Telegraph last week said that a whistleblower provided a list of names, addresses and account balances of every British client of HSBC in Jersey to Her Majesty’s Revenue & Customs agency. The report said a convicted gun runner and a drug trafficker were among the clients.
The U.K. regulator last week confirmed the receipt of the data.