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Get big enough - and you don't go to jail....
SwissLeaks - the HSBC money laundering machine
In what has been dubbed the "SwissLeaks" case, serious allegations have been made against the Swiss division of British-based banking giant HSBC. The bank is accused of systematic involvement in tax evasion and money laundering to the tune of more than 100 billion euros. Jan Fritsche discusses how the tax evasion and money laundering practices worked.
Falciani Says He Can Prove HSBC Knew of Tax Abuses
March 2 -- Herve Falciani, who took a trove of data from HSBC Holdings Plc that spawned investigations of extensive tax evasion by the bank’s clients, said he also has proof senior managers knew about the practices. Bloomberg's Francine Lacqua has more on "Countdown."