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Tags archives: swiss-leaks

Swiss leaks: HSBC admits lapses, Ambanis deny having illegal accounts

  LONDON/NEW DELHI With a global leak revealing tax evasion through offshore accounts in its Swiss branch, UK-based global banking giant HSBC on Monday admitted there have been lapses in the past on its part. “We acknowledge that the compliance culture and standards of due diligence in HSBC s Swiss private bank, as well as the industry in general, were significantly lower than they are today,” HSBC said. “The bank […]