John Christensen ■ Transparency International calls on UK to prosecute HSBC
Published:
21 February 2015Reading time:
< 1
The leading anti-corruption group Transparency International has called on authorities in the United Kingdom to launch a criminal investigation into HSBC in light of recent accusations against the bank. According to TI:
HSBC’s private bank has been accused of facilitating money laundering and earned big profits handling secret accounts for arms dealers, dictators and blood diamond traffickers, according to material released by the International Consortium of Investigative Journalists.
José Ugaz, chair of Transparency International, said:
“Multiple news outlets have shown how HSBC went out of its way to maintain bank accounts for well-known criminals and other corrupt people. The Swiss have acted on the available evidence: we do not see any reason why a criminal investigation should not also be immediately initiated by UK authorities”.
Its hard to argue with that. What’s stopping the UK authorities from taking immediate action?
The author
Related articles
Tax Justice Network Portuguese podcast #19: Carrefour e Pão de Açúcar: abusos em nome do lucro
Imperial inequalities: states, empires, taxation & reparations: online conference
$427bn lost to tax havens every year: landmark study reveals countries’ losses and worst offenders
How secrecy kills: the Beirut explosion in the Tax Justice Network November 2020 podcast
Systemic racism and tax justice: the Tax Justice Network podcast, July 2020
Multinationals, private equity and hedge funds dodge billions in capital gains tax using a very simple trick
Beneficial ownership definitions: determining “control” unrelated to ownership
Tax Justice Network’s offshore wealth estimates have just been validated by the OECD
In Apple’s victory lies a defeat for women’s rights
