Geneva: Secret documents published online alleging banking giant HSBC helped wealthy customers dodge millions of dollars in taxes caused global shockwaves yesterday and spotlighted the financial dealings of the world’s ultra-rich.
The cache of files made public in the so-called SwissLeaks case included the names of celebrities, alleged arms dealers and politicians — though inclusion on the list does not necessarily imply wrongdoing.
The documents published at the weekend claim the London-based bank’s Swiss division helped clients in more than 200 countries evade taxes on accounts containing $119bn.
The huge cache of files from Europe’s biggest bank was stolen by an IT worker in 2007 and passed to French authorities, but had not been previously made public.
The International Consortium of Investigative Journalists (ICIJ) obtained the files via French newspaper Le Monde and shared them with more than 45 other media organisations worldwide.
The documents showed that HSBC opened Swiss accounts for international criminals, businessmen, politicians and celebrities, according to the ICIJ. The revelations renewed calls for a crackdown on sophisticated tax avoidance by the wealthy and multinational companies. AFP
