A private security guard secures the entrance of the HSBC Private Bank branch in Geneva on February 18, 2015. AFP PHOTO / FABRICE COFFRINI
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Geneva's public prosecutor searched HSBC's Swiss office Wednesday after opening a criminal inquiry into allegations of aggravated money laundering, the second probe to hit the bank this week.Swiss financial regulator FINMA, which had already investigated HSBC and criticized its internal controls in 2011, said it was aware of the proceedings by the Geneva prosecutor and was in contact with HSBC about it.HSBC Chief Executive Stuart Gulliver said recent allegations had been "painful". The allegations are likely to overshadow HSBC's annual results Monday and Gulliver and Chairman Douglas Flint are due to testify to British lawmakers on the Swiss scandal on Feb. 25 .
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