Become a fan of Slashdot on Facebook

 



Forgot your password?
typodupeerror
×
The Almighty Buck

HSBC Banking Leak Shows Tax Avoidance, Dealings With Criminals 129

An anonymous reader writes: Data in a massive cache of leaked secret bank account files lift the lid on questionable practices at a subsidiary of one of the world's biggest financial institutions. HSBC's Swiss banking arm did the following: Routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland; Aggressively marketed schemes likely to enable wealthy clients to avoid European taxes; Colluded with some clients to conceal undeclared "black" accounts from their domestic tax authorities; and provided accounts to international criminals, corrupt businessmen and other high-risk individuals. For its part, HSBC admits that it is liable for past transgressions but claims its practices have changed.

Slashdot Top Deals

"Ninety percent of baseball is half mental." -- Yogi Berra

Working...