BBC News reports that Argentina has alleged that the bank used 'fake receipts' to facilitate money laundering and tax evasion, and launder 392m pesos ($77m; £50m).
The country's tax authority said it had filed criminal charges against HSBC.
HSBC said that it would cooperate with the investigation, adding that the allegations were 'of great concern'.
'We are committed to working cooperatively with authorities to ensure a thorough review and appropriate resolution of the matter', said Lyssette Bravo, a spokeswoman for HSBC.
Last year, HSBC agreed to pay US authorities $1.9bn in a settlement over money laundering, the largest paid in such a case.
Hit the link below to access the complete BBC News article:
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