There has been a money laundering case against the HSBC bank of recent, this has lead to the announcement made by the Prosecutor in Geneva this Wednesday. In his statement, the prosecutor said money laundering criminal case has been started against the bank.
The money laundering criminal inquisition led to a thorough search of HSBC bank offices on Wednesday. The story of this bank has been on the news now since the beginning of the month. It is accused for assisting its clients avoid the payment of tax worth millions of dollars.

 

The list of these clients was revealed by a whistle blower and it was said to have contained names of about a thousand Indian clients. These documents that leaked from the HSBC Swiss bank contained account details of many account holders from different countries, hence unveiling the discrepancies that have led to the money laundering charge levelled against the bank.

 

To authenticate this report is the quoted statement of the prosecutor in Geneva – “Following the recent revelations related to the HSBC Private Bank (Switzerland), the public prosecutor announces the opening of a criminal procedure against the bank for aggravated money laundering,”

 

HSBC bank has remained silent concerning these issues and no statement has been received from both their London or Swiss office. Observers all over the world are waiting to see how this case will be handled and if HSBC will come out of this guiltless.

 

Image: By Eduardo P (Own work) [CC BY-SA 3.0], via Wikimedia Commons