February 22, 2016 - ED directs 7 individuals to disclose details of local and offshore accounts & assets
Last week, at least seven individuals with HSBC accounts have received letters
from the Enforcement Directorate (ED), directing them to disclose details of all
local and offshore bank accounts and assets.
January 8, 2016 - FCA ends investigation into HSBC Swiss tax scandal
The furore centred on thousands of wealthy clients HSBC is said to have helped evade tax through its Swiss arm. As many as 100,000 customers were implicated, with between 6,000 and 7,000 UK-based. Many British clients of the bank had failed to declare their holdings with HMRC, and while offshore accounts are not illegal, deliberately hiding money to evade t
November 30, 2015 - Switzerland sentences tax evasion whistleblower Hervé Falciani to 5 years in prison
Whistleblower Hervé Falciani, a former head of computer security at HSBC's private banking arm in Geneva, was sentenced in absentia Friday after being convicted of corporate espionage for taking records that showed the bank helped hide the equivalent of $255 billion of clients' money.
November 19, 2015 - Crackdown on Caribbean tax havens a surprise boon for Hong Kong
Helped by a forecast five-year 72 per cent explosion in Greater China demand for such services, by the end of the decade Hong Kong will be the world’s largest offshore market, OIL analysts predict, overtaking the British Virgin Islands, Cayman Islands, and Singapore.
October 20, 2015 - Surge in outbound payments hint at expats' bid to escape American tax authorities
There is a sudden, inexplicable surge in money that Indians are sending abroad for " maintenance of close relatives". Such fund transfers typically add up to $10-20 million a month. But in July 2015, according to the latest available data, total remittance under this head crossed $124 million.
May 26, 2015 - Switzerland publishes names of foreign tax evaders – reports
Switzerland has reportedly published the names of foreigners wanted for tax frauds after requests from Russia, France, Germany, India and other countries. This may mark the end of Swiss bank privacy tradition, dating back to the 1930s.
April 28, 2015 - French far-right chief Le Pen hid 2.2 million euros in Swiss account, report
Le Pen's bank account with the HSBC bank's Swiss arm contained 2.2 million euros, 1.7 million of them in gold bars and coins, according to investigative website Mediapart.
April 15, 2015 - U.S. Targets Tax Evaders In Asia with HK Investigators
The U.S. consulate confirmed that two investigators are currently stationed in Hong Kong.
April 14, 2015 - Ricci heiress convicted of tax fraud
Arlette Ricci, 73, was sentenced to a year in prison and ordered to pay a €1 million (£720,000;$1.1m) fine.
March 24, 2015 - Hartnett ‘surprised’ at single conviction from HSBC data
CONTROVERSIAL former HM Revenue & Customs permanent secretary Dave Hartnett admitted his "surprise" that only one successful prosecution has resulted from the data leaked from HSBC in 2008 in the last Public Accounts Committee of the current parliament.
March 18, 2015 - HSBC may shut Jersey accounts of UK residents
HSBC is contacting thousands of holders of Jersey accounts who live in the UK as part of efforts to avoid accusations it is helping to shelter money from tax authorities.
March 18, 2015 - HSBC Closing Down A/Cs in Jersey for Non-Residents
HSBC has written to customers living in the UK who hold accounts in Jersey, asking them to take proof of identity to a branch on the island, or risk having their accounts closed, The Guardian reported today.
March 11, 2015 - Argentina wants HSBC to repatriate $3.5 bln in offshore funds
The South American country last November charged HSBC with helping more than 4,000 clients evade taxes by stashing their money in secret Swiss bank accounts. HSBC Argentina rejected the charge, saying it respected Argentine law.
March 2, 2015 - HSBC Offshore Tax-Evading Scandal Widening
Former financial regulator Bill Black details emerging revelations about HSBC bank's tax-evading practices and lack of accountability from European governments who were aware of the practice - March 1, 2015
February 23, 2015 - The Rich Hide an Estimated 21 Trillion in Offshore Accounts
James Henry, author of "Pirate Bankers," says Swiss Banks like HSBC, Credit Suisse, and UBS facilitate offshore accounts and buy millions of dollars worth of influence in Washington - February 22, 2015