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HSBC Banking Leak Shows Tax Avoidance, Dealings With Criminals
An anonymous reader writes: Data in a massive cache of leaked secret bank account files lift the lid on questionable practices at a subsidiary of one of the world's biggest financial institutions. HSBC's Swiss banking arm did the following: Routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland; Aggressively marketed schemes likely to enable wealthy clients to avoid European taxes; Colluded with some clients to conceal undeclared "black" accounts from their domestic tax authorities; and provided accounts to international criminals, corrupt businessmen and other high-risk individuals. For its part, HSBC admits that it is liable for past transgressions but claims its practices have changed.
Bank of America, Citi and Deutsche Bank have all been implicated in laundering funds.
http://www.ibtimes.com/citi-de...
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HSBC was FOUNDED on the ORIGINAL Silk Road. That heroin highway that ran through the Far East and extended tendrils through Hong Kong, Shanghai (hence the name) and London, Paris, Berlin and Rome.
Political debates have me rolling my eyes so much I think I got optical whiplash. I should sue. - Foamy The Squirrel
We essentially have a class of people above the law.
However, Kayne West jumped on stage again at the Grammys so we need to pay attention to that, first...
It's also what happens when you have lawmakers (who profit from this stuff) removing regulation under the absurd notion that regulating corporations is somehow unfair to them.
Look at who is actively preventing companies from being regulated, or dismantling existing ones ... they're the people who are essentially trying to legalize theft on a massive scale. And they keep lying to us and say that we benefit from that.
Because they're rich, corrupt, and in on it. They do this to line their own pockets, at the expense of all of us.
As far as they're concerned, if the corporations can rip us off, all the better.
Trust me, you and I are on the same page on this one.
Lost at C:>. Found at C.