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Trade war

HSBC flagged Huawei's suspicious financial dealings

Chinese company allegedly skirted American sanctions on Iran

Meng Wanzhou is suspected of involvement in a scheme aimed at skirting American sanctions on Iran.   © Reuters

WASHINGTON -- The arrest of Huawei Technologies' chief financial officer in Canada was triggered by a tip from HSBC Holdings, U.S. media reported on Thursday.

A federally appointed overseer at HSBC flagged suspicious transactions in accounts of Huawei to prosecutors, The Wall Street Journal reported. The bank "is cooperating with investigators and isn't a target in the Huawei probe," the Journal said, citing sources.

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