Global banking giant HSBC for years catered to a motley crew of weapons dealers, tax evaders, tin-pot dictators and celebrities, using its private Swiss arm to shield accounts worth more than $100 billion.
Documents obtained and analyzed by the International Consortium of Investigative Journalists (ICIJ) reveal how HSBC (HSBC) used the secretive Swiss banking system to conceal the identities of accounts holders, and in many cases, help depositors avoid paying taxes.
HSBC helped conceal $100 billion in Swiss accounts - report - Feb. 8, 2015
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