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In March 2015, the French financial state prosecutor requested that HSBC's Swiss private bank was sent to criminal trial over the suspected tax-dodging scheme for wealthy customers. The recommendation followed a lengthy investigation by local magistrates into alleged tax fraud involving 3,000 French taxpayers and was a procedural step that ...
After the collapse of the financial industry in 2008, HSBC seemed motivated to lead the industry in scandals. There were accusations of doing business with criminals and rigging markets. In 2010, the year before Mike started, French investigators announced that they had information on 79,000 clients who may have been using HSBC’s private ...
HSBC has reached an agreement with the Federal Reserve and the Office of the Comptroller of the Currency to settle allegations of improper conduct regarding its foreclosure practices. The bank ...
Following the financial crisis of 2007–2008, and allegations over excessive executive pay, demand for products dropped. Anglo Irish Bank: Ireland: 15 Jan 2009: Banking: After the financial crisis of 2007–2008, the bank was forced to be nationalised by the Irish government. Arcandor: Germany: 9 June 2009: Retail
After several such episodes, Stern made contact with the FBI and CIA, which began to investigate HSBC. Self-directed, Stern continued to collect and pass information to the CIA regarding HSBC's blatant abuse and manipulation of wire filters to approve illegal wire transfers. He left HSBC in October 2011.
Financial abuse is a silent epidemic that destroys personal autonomy and financial security. GOBankingRates spoke with Abid Salahi, finance expert and co-founder of FinlyWealth, and Dennis...
The Libor scandal was a series of fraudulent actions connected to the Libor (London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates by major banks across the world.
She was director of Treasury's Financial Crimes Enforcement Network (FinCEN) from September 22, 2012, until May 27, 2016. [2] [4] [5] [6] During her tenure at FinCEN, while representing the Asset Forfeiture and Money Laundering Section of the Department of Justice, had been "considering seeking a guilty plea from HSBC" as early as September ...