Swiss Leaks: Murky Cash Sheltered by Bank Secrecy

http://www.icij.org/project/swiss-leaks

Publisher:  International Consortium of Investigative Journalists
Year Published:  2015  
Resource Type:  Article
Cx Number:  CX17425

HSBC Private Bank (Suisse) offered services to clients who had been unfavourably named by the United Nations, in court documents and in the media as connected to arms trafficking, blood diamonds and bribery. HSBC served those close to discredited regimes such as that of former Egyptian president Hosni Mubarak, former Tunisian president Ben Ali and current Syrian ruler Bashar al-Assad. The bank repeatedly reassured clients that it would not disclose details of accounts to national authorities, even if evidence suggested that the accounts were undeclared to tax authorities in the client’s home country.

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