International Business Times: Belgian prosecutors have accused the private banking arm of HSBC of facilitating tax fraud and money laundering to the tune of hundreds of millions of euros. HSBC Private Bank, a subsidiary which is based in Switzerland, allegedly helped hundreds of wealthy clients engage in tax fraud by burying taxable income and assets in shell companies based in tax havens.
Full story: http://www.ibtimes.co.uk/hsbcs-private-bank-hit-tax-fraud-money-laundering-charges-begium-1475219?