HSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFPHSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFP
HSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFP

HSBC Swiss private bank to pay US$192 million to settle US tax evasion case

  • HSBC Private Bank (Suisse) to enter deferred prosecution agreement with US authorities
  • Swiss private banking unit admitted to conspiring with US taxpayers to avoid taxes on as much as US$1.26 billion in undeclared assets
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HSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFPHSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFP
HSBC's Swiss private banking unit admitted to conspiring with its employees, US clients and others to assist US taxpayers in evading taxes and filing false tax returns between 2000 and 2010. Photo: AFP
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