HSBC agrees to pay nearly 300 million euros to settle money-laundering case in Belgium

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August 6 2019

The Swiss private banking arm of HSBC Holdings Plc (HSBA.L) has agreed to pay nearly 300 million euros ($336.09 million) to settle a money-laundering and tax fraud case in Belgium, Belgian prosecutors said on Tuesday.

The settlement came after the bank was charged in 2014 by Belgian prosecutors for offering diamond dealers and other wealthy clients ways of hiding cash and evading tax, the prosecutors said in a statement.