Banking Giant HSBC Shelters Cash Linked to Dictators and Arms Dealers

Banking Giant HSBC Sheltered Murky Cash Linked to Dictators and Arms Dealers

Team of journalists from 45 countries unearths secret bank accounts maintained for criminals, traffickers, tax dodgers, politicians and celebrities....

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Secret documents reveal that global banking giant HSBC profited from doing business with arms dealers who channeled mortar bombs to child soldiers in Africa, bag men for Third World dictators, traffickers in blood diamonds and other international outlaws.

The leaked files, based on the inner workings of HSBC’s Swiss private banking arm, relate to accounts holding more than $100 billion. They provide a rare glimpse inside the super-secret Swiss banking system — one the public has never seen before...

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Hope something comes of this.

i do so hope so also Doc!

Repercussions of the inquiry have reached Australia as well:

http://imageshack.com/a/img910/3762/5UNa8S.jpg

You can read the original story on the Australian Broadcasting Authorities' abc.net.au website

Ummmm, the first sentence claims that the clients LEGALLY avoided taxes. I'm no legal whiz, but I thought that the rule of thumb was; tax avoidance=legal, tax evasion =illegal. ( Not to be confused with ill Eagle, which is Lynn on a bad day;-)