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Swiss Leaks (or SwissLeaks) is a journalistic investigation, released in February 2015, of a giant tax evasion scheme allegedly operated with the knowledge and encouragement of the British multinational bank HSBC via its Swiss subsidiary, HSBC Private Bank (Suisse). [1]
Hervé Falciani during an interview in 2013. Hervé Daniel Marcel Falciani (Italian: [falˈtʃaːni]; born 9 January 1972) is a French-Italian systems engineer and whistleblower who is credited with "the biggest banking leak in history."
A report by the BBC suggests that the FinCen Files reveal that the United Kingdom bank HSBC was involved in numerous illegal money transfers. [39] At the time, HSBC was subject to a deferred prosecution agreement for the laundering of $881 million on behalf of the Sinaloa and Norte del Valle cartels. [2]
HSBC ceased banking operations in Nicaragua in 2009, [167] Georgia in 2011, [168] Slovakia in 2012, [169] and Palestine in 2015. [170] HSBC disposed of its 70.1% stake in the Dar Es Salaam Investment Bank, a bank based in Iraq, in 2013. [171] HSBC Bank (Turkey) transferred its operations in the Turkish Republic of Northern Cyprus to ALBANK in ...
In October 2016, HSBC announced its decision to wind down its private banking operations in Monaco. This move was part of a broader strategy to streamline its services following various tax-related controversies, namely the Swiss Leaks and Panama Papers, associated with its Swiss subsidiary.
The Lagarde list is only a subset of a much larger data set, known as the Falciani list, with around 130,000 names of HSBC customers captured by the French police. [2] It is not to be confused with another list from the Bank of Greece of 54,000 people who took €22 billion out of the country, and which has yet to be investigated.
The sheer quantity of leaked data greatly exceeds the WikiLeaks Cablegate leak in 2010 [63] (1.7 GB), [78] Offshore Leaks in 2013 (260 GB), the 2014 Lux Leaks (4 GB), and the 3.3 GB Swiss Leaks of 2015. For comparison, the 2.6 TB of the Panama Papers equals approximately 2,660 GB.
In February 2015,balances for the year 2006–07 in HSBC's Geneva branch. The list was obtained by French newspaper Le Monde and included the names of several prominent businessmen, diamond traders and politicians. [24] The number of Indian HSBC clients is roughly double the 628 names that French authorities gave to the Indian Government in ...