HSBC faces fresh investigations over tax scandal

HSBC is facing investigations at home and abroad following allegations that it colluded with Swiss clients to help them dodge tax.

Further details on the scandal came to light yesterday as the BBC Panorama programme said it has seen thousands of accounts from HSBC's private bank in Switzerland which prove it helped rich clients "cheat the UK" out of millions in taxation. Now, the UK's Public Accounts Committee (PAC) plans to investigate the bank, which is the largest in Europe by assets. There have also been calls for action in the US, Belgium, France, Argentina and Switzerland since the news broke. HMRC is understood to have known about the private banking accounts since 2010, when the French authorities handed ...