UK probes HSBC Jersey accounts

UK authorities are investigating a list of more than 4,000 British residents who have bank accounts with HSBC Holdings Plc, the country's largest lender, in the offshore tax haven of Jersey, the Telegraph reported.

The UK revenue and customs agency is studying the list, the newspaper cited a spokesman as saying. The list, leaked by a whistleblower, includes a man who was jailed for two years after more than 300 guns were found in his house and the owner of a farm where police discovered cannabis valued at 500,000 pounds ($800,000), the Telegraph said, without citing anyone.

HSBC said this week it's likely to face criminal charges from US anti-money-laundering probes and the cost of a settlement may "significantly" exceed the $1.5 billion the bank has set aside. Chief Executive Officer Stuart Gulliver's attempts to reduce costs at the bank are being hobbled by the US probes and compensation claims from UK clients.