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.
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.