Shares of HSBC Holdings PLC and Standard Chartered PLC dropped in Asian trading Monday following media reports overnight that the two banks and others moved suspected illicit funds despite red flags about their origins. The allegations, made by U.S. news outlet BuzzFeed News in collaboration with global news organizations including the International Consortium of Investigative Journalists, are based on leaked documents relating to more than $2 trillion of transactions mostly between 2011 and 2017.

Source: Wall Street Journal September 21, 2020 06:11 UTC