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HSBC: an update from Great Britain


They have been two stormy weeks for the British multinational banking and financial services company with files being leaked showing that the organisation has broken the law to help some of its wealthy clients all over the world evade tax using secret HSBC accounts in Switzerland. The HSBC now faces an investigation by the Financial Conduct Authority and, possibly, other bodies.

They have been two stormy weeks for the British multinational banking and financial services company with files being leaked showing that the organisation has broken the law to help some of its wealthy clients all over the world evade tax using secret HSBC accounts in Switzerland. The HSBC now faces an investigation by the Financial Conduct Authority and, possibly, other bodies.

 Geneva, Switzerland A HSBC logo is pictured behind the flag of the canton of Geneva at a Swiss branch of the bank in Geneva February 18, 2015. Geneva's public prosecutor searched the premises of HSBC Holdings PLC in Geneva on Wednesday and said it had opened a criminal inquiry into allegations of aggravated money laundering. HSBC, Europe's biggest bank, apologised to customers and investors on Sunday for past practices at its Swiss private bank following allegations that it helped hundreds of clients dodge taxes. REUTERS/Denis Balibouse

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