French accuses HSBC Switzerland of money laundering

French authorities have announced charges against HSBC's Swiss branch for money laundering and conspiracy with former Banque du Liban governor Riad Salameh. Investigations revealed the transfer of over $330 million through illegal transactions and the use of these funds to purchase real estate in France and Europe. The bank has also been required to pay a financial bond of 80 million euros. Swiss and Lebanese investigations are ongoing, examining embezzlement and collusion, but at this point, it remains unclear the extent of the bank's legal responsibility or whether it will be permanently detained.

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