HSBC Swiss Unit Charged in Paris Over $300m Diversion

Swiss subsidiary of HSBC was indicted in Paris for allegedly assisting former Lebanese central bank governor Riad Salamé in diverting more than $300 million. The charges were disclosed after a report by Le Monde and confirmed by AFP. Le Monde's investigation prompted the French prosecutor's office to open the case. AFP verified the indictment details. Riad Salamé served as governor of Lebanon's central bank until 2020. He is accused of moving over $300 million out of Lebanon through complex financial transactions. The Swiss subsidiary, part of the British HSBC group, is alleged to have facilitated those transfers. Prosecutors claim the unit breached anti‑money‑laundering regulations. French authorities say the investigation will assess whether the Swiss unit knowingly assisted the diversion. Potential outcomes include fines or further legal action. The case adds to ongoing scrutiny of HSBC's global compliance practices. The verdict could shape future oversight of multinational banks in cross‑border transactions.