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HSBC says it is serious on compliance with law

Publish Date: 09 Nov 2012, 06:58 PM
Last Updated: 10 Nov 2012, 10:10 AM
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Have always complied with laws: HSBC
Have always complied with laws: HSBC

New Delhi: HSBC Bank on Friday came out with a cautious reaction to Arvind Kejriwal's attack on alleged money laundering through its Geneva branch saying it takes compliance with the law very seriously.

"HSBC Bank in India notes certain allegations made today. The bank cannot comment on the specific details of the allegations that have been made, which relate to issues in the past.

"HSBC takes compliance with the law, wherever it operates, very seriously. With a new senior global leadership team and a new strategy in place since last year, HSBC continues to take concrete steps to strengthen compliance, risk management and culture," the bank said in statement.

The bank said India is the key strategic market for HSBC. The group remains committed to investing in and growing its operations in the country.

(Agencies)

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