HSBC being probed for abetting tax evasion

New Delhi, Feb 26: Tax authorities in India and other countries are probing HSBC Bank, including its Swiss and Dubai offices, for allegedly abetting tax evasion by four Indians and their families, the multitiol lender has disclosed. “Various tax administrations, regulatory and law enforcement authorities around the world, including in the US, France, Belgium, Argenti and India, are conducting investigations and reviews of HSBC Swiss Private Bank and other HSBC companies in connection with allegations of tax evasion or tax fraud, money laundering and unlawful cross-border banking solicitation,” HSBC said in its latest annual report released earlier this week.