SwissLeaks: HSCB apologizes for tax evasion – BBC

SwissLeaks: HSCB apologizes for tax evasion – BBC

The British bank presents its “sincere apologies” in a page advertisement in the Sunday press. From our correspondent in London

The banking giant HSBC, whose headquarters are based in London, on Sunday presented his” sincere apologies “for tax avoidance practices of its Swiss private banking subsidiary unveiled in revelations “SwissLeaks”. An advertising page published by several Sunday newspapers, the Sunday Times or Sunday Telegraph , the CEO of HSBC Stuart Gulliver recognizes that media coverage of the case was “a painful experience.”

It ensures that the Swiss subsidiary in question was “completely revamped” since 2008, with an “enhanced control of our customers’ standards of transparency and regulatory compliance . “We have absolutely no desire to do business with clients who evade taxes,” said the officer.

Stuart Gulliver wants to put this information into perspective and clarify facts. It evokes the data “stolen by an employee of the Swiss Private Bank there are more than eight years” and disputes the figure quoted by the media than 100,000 customers affected, adding that HSBC Private Bank had 30,000 accounts at its peak. Of the 140 names of British personalities cited by the press, 106 are not customers of the bank, he said, and “many have mentioned simply because it is known individuals.”

SwissLeaks case led to an increasing political controversy in Britain. The Labour leader, Ed Miliband accuses David Cameron and the Conservative collusion with former executives of HSBC and be funded by personalities pinned for tax evasion. The former head of the bank at the time, Stephen Green, then appointed Trade Minister David Cameron, resigned Friday from his position as TheCity UK, a representative lobby of London’s financial center.

The Bank of England, responsible for the supervision of the UK banking sector, has announced that it plans to address the HSBC practices. Members of the Treasury and Public Finance commissions also intend to put pressure on the leaders of the banks and the UK tax authorities for their laxity in tax evasion.