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Claims of criminal account holders investigated by HSBC

9 November 2012 Last updated at 14:03 GMT

HSBC bank says it is looking into allegations that criminals have used offshore accounts at its Jersey operation for money laundering.

The bank issued a statement after the Daily Telegraph newspaper said it was at the centre of a major investigation by HM Revenue and Customs (HMRC).

HSBC said it was investigating "an alleged loss of certain client data in Jersey as a matter of urgency".

HMRC said it had "received the data and we are studying it".

Simon Gompertz reports.