Shares in HSBC Holdings (0005) have skidded by 3.39 percent at HK$29.90 today,while Standard Chartered shares are down by 3.23 percent at HK$36.00. The two banks have been named among five, including JPMorgan Chase & Co, Deutsche Bank AG, Standard Chartered Plc and Bank of New York Mellon Corp, that have filed suspicious activity reports with the U.S. Department of Treasury’s Financial Crimes Enforcement Network. The International Consortium of Investigative Journalists and other media organizations, said the ICIJ reported that the files contained information about more than US$2 trillion worth of transactions between 1999 and 2017, which were flagged by internal compliance departments of financial institutions as suspicious.

Source: The Standard September 21, 2020 02:15 UTC