July 15, 2010 - US indicts lawyer they say aided HSBC-linked client
A U.S. grand jury indicted on Thursday a Swiss lawyer they allege helped a man identified as having an account at London-based HSBC Holdings Plc (HSBA.L) evade taxes, part of a widening probe into foreign banks that might have aided U.S. clients avoid paying tax.
July 14, 2010 - Video Inside Story-Swiss bank secrecy under pressure
The US is investigating whether billions of dollars in evaded taxes are being hidden in Switzerland’s largest bank UBS. How will Switzerland defend its traditional confidentiality?
July 12, 2010 - U.S. Widens Tax Inquiry Into HSBC
The investigation of the bank, which is being conducted by the Justice Department, began informally around late 2008 as an offshoot of the scrutiny of UBS, the Swiss bank giant, over offshore services used to aid tax evasion.
July 10, 2010 - U.S. Widens Tax Inquiry Into HSBC
Prosecutors are also mining suspicious activity reports filed by HSBC. The reports, which financial institutions are required to file with the Financial Crimes Enforcement Network, a unit of the Treasury Department, concern suspicious or potentially suspicious activity by clients.
July 10, 2010 - U.S. Expanding Probe of HSBC's Offshore Tax Services, N.Y.
The Justice Department is looking for “UBS-style numbers and UBS-style fact patterns,” the Times quotes one of its sources as saying.
July 9, 2010 - Mass Leak of Client Data Rattles Swiss Banking
HSBC officials allege that Mr. Falciani copied thousands of files of wealthy clients of its Swiss private-banking arm.
July 8, 2010 - IRS OFFSHORE ACCOUNT PROBE WIDENS
The message for anyone with an offshore account who hasn't yet stepped forward? It is the same as it was in the UBS case: Waste no time in contacting the IRS....
July 8, 2010 - U.S. opens criminal probe of HSBC clients
After forcing Switzerland's top bank, UBS AG, to its knees for helping U.S. residents dodge taxes, U.S. authorities are moving on other banks and countries used to hide clients' cash.
July 7, 2010 - Analysis: Asia next in line of fire for U.S. tax police
"What the U.S. is going to do now is knock on the door of banks in all countries shielding U.S. citizens assets," said former U.S. Justice Department prosecutor Michael Weinstein. "The UBS case was simply the opening salvo in a long war."
July 7, 2010 - HSBC clients scrutinized in US tax evasion probe
HSBC clients have received a June 21 letter from Kevin Downing, a senior litigator at the Justice Department who oversaw the UBS probe, that says they are subjects of a criminal investigation.
July 7, 2010 - HSBC offshore accounts under investigation by US...
It appears there's been some compromise to the security of information at Asian HSBC branches," McKenzie told the Guardian. "I don't know whether HSBC has co-operated with the authorities."
July 7, 2010 - HSBC Clients Scrutinized in U.S. Tax Evasion Probe
Gareth Hewett, an HSBC spokesman in Hong Kong, declined to comment, but said the bank "fully supports government moves for appropriate disclosure by its citizens" and "does not condone or assist tax evasion."
July 6, 2010 - US authorities start probe into HSBC accounts in India
In a crackdown on offshore tax evasion, American authorities have begun a criminal probe into HSBC individual account holders, who may not have disclosed their accounts in India.
July 6, 2010 - HSBC's Asian accounts to face US probe
NEW YORK: The Justice Department is conducting a criminal investigation of HSBC Holdings clients who may have failed to disclose accounts in India or Singapore to the Internal Revenue Service...
July 5, 2010 - HSBC Clients With Asian Accounts Said to Face U.S. Tax Probe
The Justice Department is conducting a criminal investigation of HSBC Holdings Plc clients who may have failed to disclose accounts in India or Singapore to the Internal Revenue Service...