Arab Today, arab today hsbc switzerland met clients in 25 countries
Last Updated : GMT 02:05:18
Arab Today, arab today
Arab Today, arab today

HSBC Switzerland met clients in 25 countries

Arab Today, arab today

Arab Today, arab today HSBC Switzerland met clients in 25 countries

HSBC Switzerland
Geneva - AFP

Bankers from HSBC's Swiss division held hundreds of often illegal meetings with wealthy clients in 25 countries as part of their efforts to open undeclared accounts for them, Swiss media reported Tuesday.
The latest files in the so-called SwissLeaks affair shows that during 2004 and 2005 the bankers had at least 1,645 meetings in 25 countries with clients or prospective clients, the newspapers Tages Anzeiger and Le Temps reported.
The meetings occurred in places as diverse as luxury hotels in Paris and Tel Aviv, a piano bar in Antwerp, the airport in Pointe-Noire, Congo, and a summer residence in Copenhagen.
The meetings conducted by "relations managers" were legal if they were just courtesy calls but not if business was done, such as when the bank obtained new funds or helped customers avoid taxes, the papers said.
Five of the 25 countries -- the United States, France, Argentina, Spain and Belgium -- have begun legal action against HSBC Switzerland.
According to one SwissLeaks file, a retired Turkish-born man met in Paris in January 2005 with a relations manager.
"The customer wanted to see me to discuss closing two accounts with Barclays and UBS and transferring the (money) to us," the file quoted the manager as saying, adding that he expected the bank to receive about one million dollars in the transaction.
The papers reported that the bankers also used the meetings to propose to their customers ways to avoid a European tax on deposits in Switzerland held by Europeans.
The tax, called the European Savings Directive, took effect in 2005.
As the directive concerned only accounts held by physical persons, HSBC Switzerland proposed that its clients create offshore companies and place their funds there, according to the files.
The files created global shockwaves on Monday, highlighting the financial dealings of the world's ultra-rich and prompting British lawmakers to launch an inquiry into the London-based bank.
Celebrities, alleged arms dealers and politicians are named in the files, though their inclusion does not necessarily imply wrongdoing.
Published at the weekend, the files claim that HSBC's Swiss division helped clients in more than 200 countries evade taxes on accounts containing $119 billion (104 billion euros).
Herve Falciani, an IT worker turned whistleblower, stole the files in 2007 and passed them to French authorities, but they had not been previously made public.
The International Consortium of Investigative Journalists obtained the files via French newspaper Le Monde and shared them with more than 45 other media organisations worldwide.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc switzerland met clients in 25 countries Arab Today, arab today hsbc switzerland met clients in 25 countries

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday