Page 171 - Bank Case Studies

2014 Nov: France, Belgium and Argentina charge HSBC with aiding

tax evasion through its Swiss business.

2015 Feb: The full extent of the Falciani leaks were exposed in the
media.

Feb 2015: More details of the Falciani leaks are published by media

organisations across the world. HSBC apologies in a full
page advert taken out in national newspapers.

Chairman Douglas Flint and Chief Executive Stuart Gulliver
questioned by U.K. Parliament's Treasury Committee about
personal accountability amid allegations that its Swiss private
bank helped wealthy clients, including as many as 1,000 Britons,

evade taxes.

Jul 2016 DOJ charge two HSBC executives over an alleged $3.5
billion currency scheme which defrauded HSBC clients

and "manipulated the foreign exchange market to benefit
themselves and their bank" Mark Johnson and Stuart

Scott, both British citizens.

Nov 2017 UK regulator FCA are to investigate claims that HSBC was
involved in “possible criminal complicity” by aiding money

laundering for the billionaire Gupta family in South Africa.
The call to investigate comes as the scandal surrounding

the Guptas’ alleged links to South Africa president Jacob
Zuma intensified, with the country’s official opposition
party walking out of the parliament in protest over

corruption claims.