Labour increase pressure on Trade Minister Lord Green

Published on 24/07/2012 00:00

Labour has stepped up pressure on Trade Minister Lord Green over claims of money laundering at HSBC while he was in charge of the bank.

A US Senate committee found HSBC accepted more than £9 billion from high-risk money-laundering countries such as Mexico and Russia without properly monitoring transactions.

The opposition’s leader in the Lords, Baroness Royall, was granted an urgent question on the impact of the allegations “on the ability of Lord Green of Hurstpierpoint to fulfil his ministerial duties”.

Lord Green spent three years as chief executive of the bank before being appointed chairman in 2006, a role he remained in until he was brought into government by David Cameron in 2010.