HSBC accused of aiding tax evasion in Argentina
Tuesday 19 March 2013
The British banking giant HSBC has been accused of facilitating money laundering and tax evasion in Argentina.
The South American country’s tax chief, Ricardo Echegaray, said HSBC’s Argentina subsidiary created an illegal scheme that helped its clients evade more than $100m (£66m) in taxes.
Mr Echegaray the scheme included a criminal organisation and fake receipts used to launder money for various companies. Since February, the bank “had been rolling out a fraud-enabling platform” that Mr Echegaray called “a manoeuvre to hide bank account information from tax collectors”.
HSBC’s Latin America spokeswoman, Lyssette Bravo, issued a statement promising to co-operate with authorities: “HSBC takes compliance with the law... very seriously and strongly supports the efforts of governments and regulators to detect unlawful activity.”
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
- 5 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Pornhub star Mia Khalifa receives death threats after being ranked the site's top adult actress
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
Negotiable: Recruitment Genius: This leading provider of UK Magento hosting so...
£16000 - £19000 per annum: Recruitment Genius: A unique opportunity has arisen...
Negotiable: Tradewind Recruitment: Tradewind are working with this secondary s...
Negotiable: Tradewind Recruitment: We are working with a school that needs a t...