HSBC accused of helping clients 'dodge millions in tax'


Banking giant HSBC helped wealthy clients dodge paying millions in tax to UK authorities, the BBC reports.

The broadcaster's Panorama programme said it has seen thousands of accounts from HSBC’s private bank in Switzerland which prove it helped rich clients “cheat the UK” out of millions in taxation. The BBC reports HSBC bankers offered clients deals to help “tax dodgers stay ahead of the law”. HSBC said while some people had taken advantage of bank secrecy to operate undeclared accounts it had now “fundamentally changed”. The documents, which contain details from more than 100,000 client accounts including 7,000 Britons, were stolen by a whistleblower in 2007. They were handed to HM Re...

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