New Reports Show HSBC Helped Clients Dodge Taxes
Data leaked in 2009 shows the Swiss branch of HSBC helped wealthy clients avoid paying taxes on their Swiss accounts.By Steven Sparkman | February 8, 2015
It's one of the biggest leaks in banking history; the ongoing story of how clients of the Swiss branch of banking giant HSBC hid billions of dollars from their governments. In the latest chapter of the saga, journalists around the world published new information Sunday on how the bank actually helped clients avoid taxes — and began naming names. (Video via Le Monde)
"They come from 203 countries, and the total balance is $102.05 billion," reports The Indian Express.
The leaks have launched investigations all over the world into whether the bank's clients deliberately hid assets to avoid paying taxes, and whether HSBC failed to report those funds. (Video via Euronews)