CorpWatch : Argentina and Belgium Accuse HSBC of Aiding Tax Evasion
Argentina and Belgium Accuse HSBC of Aiding Tax Evasion
by Pratap Chatterjee, CorpWatch Blog
November 28th, 2014
Argentina and Belgium have separately accused HSBC bank's Geneva branch
of setting up a network of offshore accounts to help their citizens
avoid paying billions of dollars in taxes. The Belgian charges were
filed Monday and the Argentine charges were announced Friday.
HSBC,
formerly known as Hong Kong & Shanghai Corporation after the city
where it was founded in 1865, is now headquartered in the UK, but has 60
million customers across 80 countries with assets of $2.7 trillion. The
two countries say that HSBC
Private Bank SA in Geneva, Switzerland, provided their citizens with
illegal financial services, money laundering and organized tax fraud.
Argentina and Belgium have separately accused HSBC bank's Geneva branch 