HSBC private bank in Switzerland pays US$353 million to settle tax evasion case

Published: 14/11/2017
HSBC private bank in Switzerland pays US$353 million to settle tax evasion case
Source: WWW.SCMP.COM

HSBC Holdings has agreed to pay 300 million euros (US$353 million) to settle a long-running investigation into tax evasion by French citizens via its private bank in Switzerland, the lender said on Tuesday. The agreement is a first under a French system introduced in 2016 to allow companies to settle without any finding of guilt, HSBC said in a statement, adding the fine had been fully provisioned

Read more
Related news
Comment
Latest in blog
FACEBOOK