LONDON (Reuters UK) - Police are investigating an alleged attempted fraud at Britain's biggest bank, HSBC Holdings (HSBA), the bank said on Thursday, which is estimated to involve about 70 million pounds.
HSBC said no customer funds were involved and that no money had been lost. The investigation is believed to have been prompted after HSBC systems uncovered unusual activity in its third-party securities settlement unit.
An HSBC spokesman said the bank was cooperating with a police investigation "into an alleged fraud at the bank", but it could not comment further as the matter was now before the courts.
City of London police said Jagmeet Channa, 25, was charged with conspiracy to defraud, money laundering and abusing a position of trust on April 25. He has been remanded in custody until June 25, when he will appear at Southwark Crown Court.
Three other men are on police bail in connection with the investigation.
(Reporting by Steve Slater; Editing by Quentin Bryar)
