) Swiss private banking arm has agreed to pay nearly 300 million euros to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state’s banking sector from the EU.
The Belgian prosecutors said in a statement that HSBC was “charged by a prosecutor in 2014 for serious and organized tax fraud, forgery and falsification of records, money-laundering and illegal use of financial intermediaries.” The Belgian prosecutors said that under the settlement, which needs to be endorsed by Belgian judges, HSBC had agreed to pay 294.4 million euros to the Belgian state for losses in tax revenues caused by the alleged illegal activities carried out by the bank since 2013.
nw_nicholas
Bank itself in fraud....whose money is going to be paid as penaltywho is responsible They should be put into jail...if not the banks policy itself in stake