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Senate investigates HSBC
The Senate Permanent Subcommittee on Investigations has opened a probe into HSBC, focusing on possible money laundering. The probe dovetails with other investigations into global banks and financial transactions on behalf of countries that support illicit activity. HSBC has been at the storm of several AML controversies over the past several years, and seems to be stepping up its defenses. The Justice Department has had a previous investigation on-going as well. The specific focus of the probe is unclear. Article
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