The attempt by Jagmeet Channa, 25, was discovered last week at HSBC's securities services division, which settles trades for clients.

A payment to a bank reportedly raised suspicions at the division in HSBC's head office building at Canary Wharf and the police were called.

A police spokeswoman said Channa, from Ilford in Essex, was charged on 25 April with conspiracy to defraud, money laundering and abusing a position of trust.

He was remanded in custody until 25 June, when he will appear at Southwark Crown Court. The police said three other men aged 26, 33 and 38 were on police bail in connection with the investigation.

HSBC said that no customer funds were involved and no transactions were disrupted. No customer or bank funds were lost, the bank added.

"HSBC is co-operating fully with a police investigation into an alleged fraud at the bank. As the matter is before the courts, we cannot comment further," a bank spokesman said.