The bank claims its security systems foiled an attempt by back office worker Jagmeet Channa, 25, from Ilford in Essex, to defraud the financial giant by moving money electronically between accounts.
The bank is believed to have called the police to its office tower after HSBC’s systems picked up on irregular activities within the corporate trust and loan agency team of its third-party securities settlement unit, a division that is entirely separate from its global banking and markets arm.
Channa was responsible for checking through trades at the end of the day, but was otherwise not involved in trading or broking.
He was remanded in custody until 25 June, when he will appear before Southwark Crown Court on charges of attempted fraud, money laundering and abusing a position of trust.
City of London Police said that three other men, aged 26, 33 and 38, were released on police bail.
An HSBC spokesman said that the bank’s security systems had quickly picked up on the attempted theft and added, “No customer funds were involved and no transactions were disrupted. No customer or bank funds were lost in the alleged fraud.”
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