Stuart Gulliver, the boss of HSBC, grumbles that publicly owned businesses are now being held to a higher standard of behaviour than bishops. A more apt comparison might be medieval monks, given the self-flagellation that the London-based banking giant has felt obliged to perform in the wake of a tax-dodging scandal. It has run grovelling, […]

Prosecutors in Geneva have raided the offices of HSBC’s scandal-hit private bank as pressure increases on Britain’s biggest lender over allegations of money laundering and tax evasion. The raid forms part of a criminal inquiry amid accusations that the bank helped customers, including arms dealers and blood diamond traders, move money around the world. It […]

Documents detail customers who faced allegations including drug-running, corruption, doping and money laundering Read More http://bit.ly/16Z12Uc

HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files. The files – obtained through an international collaboration of news outlets, including […]

The FCA levied around £1.5bn in fines during 2014, nearly three times the amount raised the year before. Last year was one of bumper fines, with five banks told to pay a record £1.1bn for failing to control business practices in their G10 spot foreign exchange trading operations. Citibank NA was fined £225.5m, HSBC £216.3m, […]

 HSBC has severed ties with the firm behind the world’s first regulated Bitcoin investment fund. Jersey-based hedge fund Global Advisors (GA) claims the bank was worried about “money laundering risk”. GA’s Daniel Masters told the BBC that the development threatens well publicised plans to make Jersey a global centre for digital currencies. HSBC would not […]

Argentina’s tax agency charged HSBC bank Thursday Nov. 27, 2014, with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. The head of country’s AFIP tax agency, Ricardo Echegaray, said Argentine citizens have evaded about $3 billion in taxes that were handled by intermediaries through a network of offshore […]

Authorities in Brussels have charged HSBC’s private banking arm, which is based in Switzerland, with helping wealthy Belgians to avoid taxes. Prosecutors allege that hundreds of clients – including diamond dealers in Antwerp – moved money to offshore tax havens with the help of the bank. They said it resulted in hundreds of millions of […]