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ARTICLE · 27 MARCH 2015

Tax Evasion: HSBC Is Still In The Spotlight

Miller Thomson
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In early February 2015, the Washington based International Consortium of Investigative Journalists released its latest report on the depths of HSBC’s involvement with clients in a wide array of illegal activities

CanadaWealth Management
David Chodikoff
David Chodikoff
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In early February 2015, the Washington based International Consortium of Investigative Journalists ("ICIJ") released its latest report on the depths of HSBC's involvement with clients in a wide array of illegal activities primarily aimed at hiding hundreds of millions of dollars from national tax authorities. The ICIJ had a team of journalists from 45 countries dig up information on secret bank accounts that were maintained for criminals, drug traffickers, tax dodgers, politicians and celebrities. The documents were initially obtained by the ICIJ from the national French newspaper, Le Monde. The documents demonstrate the nexus between international crime and legitimate business. The latest revelations significantly expand the public's knowledge of what tax authorities have likely known for several years regarding the scope of the HSBC's allegedly and potentially illegal and unethical behaviour.

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