17 November 2014 - Brussels
Authorities in Brussels have charged HSBC's
private banking arm, which is based in Switzerland, with helping wealthy
Belgians to avoid taxes.
Prosecutors allege that hundreds of clients -
including diamond dealers in Antwerp - moved money to offshore tax havens with
the help of the bank.
They said it resulted in hundreds of millions
of euros in lost tax revenue.
HSBC in BELGIUM:
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1
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HSBC Bank plc
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canada square 8
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8
février 1999
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E14 5HQ London
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2
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HSBC BANK PLC BRUSSELS BRANCH
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Avenue de
Tervueren 270 / 12
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1150 Woluwe-Saint-Pierre
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3
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HSBC FRANCE
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Avenue des Champs-Elysées 103
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11
juillet 1985
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Paris
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4
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HSBC France
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Avenue des Champs-Elysées 103
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9
novembre 2011
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75008 Paris
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5
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HSBC FRANCE, BRUSSELS BRANCH
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Avenue de Tervueren 270
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1150 Woluwe-Saint-Pierre
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6
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HSBC LEASING (BELGIUM)
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Boulevard du Souverain 36
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13
septembre 2006
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1170 Watermael-Boitsfort
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7
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HSBC Leasing (Belgium)
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Avenue de Tervueren 270
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1150 Woluwe-Saint-Pierre
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In August, HSBC warned that the penalties in
relation to such allegations "could be significant".
In a statement, Belgian authorities accused
HSBC of "having knowingly eased and promoted fiscal fraud by making
offshore companies available to certain privileged clients".
These companies, which are based in Panama and
the Virgin Islands, exist for the sole purpose of tax evasion, they added.
Over 1,000 taxpayers are alleged to have been
involved in the fraud, which saw funds amounting to several billion dollars
transferred out of Belgium since 2003.
Responding to the announcement by Belgian
authorities, HSBC said it had been notified of the investigation, and of a
similar investigation by French authorities, and that the bank would
"continue to cooperate to the fullest extent possible".
'Illegal'
Banks operating in Switzerland are bound by
the European Union Savings Directive to counter cross-border tax evasion, by
collecting information on the savings income foreign residents receive outside
their resident state.
Belgian authorities also published emails and
other correspondence between HSBC and Belgian clients, which appear to show the
bank offering tax evasion services.
Prosecutor Michel Claise accused HSBC of
"fraud, money laundering, criminal association and illegal exercise of the
profession of financial intermediary".
In October, Belgian police raided the homes of
approximately 20 people with private bank accounts at HSBC's Swiss subsidiary,
to gather evidence against the lender.
HSBC has been subject to a series of fines for
misconduct in recent years, most recently in relation the manipulation of
foreign currency exchange rates.
SOURCE : BBC NEWS and BanqueCarrefour.be