Tuesday, February 10, 2015

HSBC helped wealthy clients to evade taxes in millions

Britain's banking giant HSBC is under fire for helping out its wealthy customers across the world to evade hundreds of millions of British Pounds worth of tax.

BBC reports that the tax evaders assisted by HSBC include 106,000 clients in 203 countries, of which 7,000 clients are from UK.

The bank now faces criminal investigations in the US, France, Belgium and Argentina, but not in the UK, where HSBC is based.

Read details at BBC Business
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