December 11, 2019 - HSBC Swiss unit to pay $192 million in latest U.S. tax evasion deal
The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million to resolve a U.S. probe of its role in helping wealthy Americans evade taxes by using undeclared Swiss bank accounts, the U.S. Department of Justice said on Tuesday.
February 4, 2019 - Swiss Tax letters leave Indians in HSBC list in a catch-22 situation
After many twists and turns, the story of Swiss accounts of Indian clients of HSBC Geneva has now entered the last lap. Since last week, the Swiss Federal Tax Administration (FTA) has started shooting letters to these customers, seeking their consent — an old ritual under the Swiss law — before revealing their account information to Indian authorities.
April 5, 2018 - Swiss bank whistleblower arrested in Spain
The arrest on Wednesday, almost two years after Falciani's conviction was made final by Swiss courts, comes as Spain seeks the extradition from Switzerland of Marta Rovira, a prominent Catalan separatist politician considered key in the Spanish region's illegal independence bid.
August 31, 2017 - Barclays, HSBC Join Settlement Coin as Blockchain Test Enters Next Phase
Work on the next phase of the project — the last before a live implementation — will include six members revealed today, Barclays, CIBC, Credit Suisse, HSBC, MUFG and State Street, building alongside founding financial institutions UBS, BNY Mellon, Deutsche Bank, Santander, NEX and blockchain startup Clearmatics.
Feb 27, 2017 - HSBC reveals it is being probed for helping clients dodge taxes
HSBC further said it had set aside $773 million as a provision for various tax- and money laundering-related matters. The bank first came under the spotlight when a leaked list containing several names made its way to several governments across the world, including India. The leaked list triggered several dispensations to launch probes against the list of individuals as they believe that several of them might be involved in stashing away cash to dodge taxes.
February 27, 2017 - HSBC reveals ongoing tax evasion probe in India, US, France, others
Countries like US, France, Belgium, Argentina and India, are conducting investigations and reviews of HSBC Swiss Private Bank and other HSBC companies in connection with allegations of tax evasion or tax fraud, money laundering and unlawful cross-border banking solicitation
November 9, 2016 - Tanzania, Switzerland Sign MOU To Recover Millions Lost in Offshore Accounts
According to a 2015 report titled the “Swiss Leaks” project by the Washington-based International Consortium of Investigative Journalists (ICIJ), Tanzanian clients have approximately $114 million hidden in the Swiss banking arm of HSBC.
September 15, 2016 - HSBC case blows lid off Clintons' offshore empire
The arrest of the head of global foreign exchange cash trading at HSBC bank may shed new light on suspicions the Clinton Foundation has been involved in illegal offshore money-laundering operations on a massive scale.
August 16, 2016 - Swiss HSBC Account Holders bent on cross-examining persons who shared their info with India
August 16, 2016 - Julius Baer Said to Hire HSBC Bankers in Latin American Push
HSBC is in the process of divesting a portfolio of Latin American client assets in Switzerland to Banco Santander SA as the British lender restructures its private bank, people familiar with the matter said last month. The deal may include $4 billion to $6 billion of assets under management, according to the people.
August 10, 2016 - HSBC profits fall 29% as it warns on Panama Papers impact
HSBC has received requests for information from various regulatory and law enforcement authorities around the world concerning persons and entities believed to be linked to Mossack Fonseca & Co, a service provider of personal investment companies. HSBC is cooperating with the relevant authorities,” the results state.
June 17, 2016 -
“The disappearance of international private banks has left an eerie silence in some of the downtown offices that were once the top end of the market,” said Raphael Reginato, who works in the city as a broker at real estate asset manager AMI International. “Geneva’s not the magnet for international finance it used to be.”
April 22, 2016 - HSBC chairman says scandals show banks must raise standards
“We are taking steps to align our customer base with these higher standards, relinquishing clients unable or unwilling to furnish full transparency of their affairs,” said Flint.
April 7, 2016 - This Bank Got Caught In The Middle Of Two Massive Corporate Scandals In One Week
In the last five days, the bank has been linked to two massive global corruption scandals: first, the Unaoil email leak, which exposed how middlemen paid officials to help huge corporations obtain contracts — and then, the leaked trove of documents known as the Panama Papers, which revealed in astonishing detail the offshore financial holdings of the world’s rich and powerful.
April 4, 2016 - Banks Hvae a Panama Problem
Take HSBC. Its Monaco-based and Swiss units asked Mossack Fonseca, the law firm at the heart of the affair, to set up offshore companies for clients, according to the International Consortium of Investigative Journalists.