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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]
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]
Falciani created the "Lagarde list", a list of HSBC clients who allegedly used the bank to evade taxes and launder money. Falciani leaked the list to ex-French Finance Minister Christine Lagarde (currently the President of the European Central Bank). Lagarde, in turn, sent the list to governments whose citizens were on the list. [6]
HSBC ceased banking operations in Nicaragua in 2009, [169] Georgia in 2011, [170] Slovakia in 2012, [171] and Palestine in 2015. [172] HSBC disposed of its 70.1% stake in the Dar Es Salaam Investment Bank, a bank based in Iraq, in 2013. [173] HSBC Bank (Turkey) transferred its operations in the Turkish Republic of Northern Cyprus to ALBANK in ...
The 2015 Swiss Leaks revealed that he was a client of the British university Bank, HSBC, thereby having assets in the British Virgin Islands. [15] As of 2024 [update] , Dangote is the richest person in Africa , with an estimated net worth of US$13.9 billion, surpassing counterpart Johann Rupert .
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.
John Michael Flint (born 1968) is a British banking businessman, who was chief executive (CEO) of HSBC Group from February 2018, having succeeded Stuart Gulliver.After serving for about 18 months, Flint announced on 5 August 2019 that he would be stepping down from the position, after a mutual agreement with the board.
Suisse Secrets was a February 2022 leak of details of more than CHF 100 billion (roughly US$108.5bn, €95.5bn or £80bn) held in nominee accounts linked to over 30,000 clients of Credit Suisse, [1] the largest ever leak from a major Swiss bank.