article_snippet: In a statement, the crossbench peer admitted there has been ‘a lot of controversy’ over claims that HSBC enabled clients of HSBC Swiss private banking arm to avoid tax.
article_snippet: There has been a lot of controversy over the alleged actions of HSBC clients and of the bank itself in recent weeks.
article_snippet: Jonathan also became a member of a committee the bank itself set up to combat financial crime, in the wake of the scandal that saw the bank itself fined £1billion in the US for allowing Mexican drug gangs to launder money through the bank itself accounts.
article_snippet: But despite their efforts, HSBC has been dragged into another scandal that could lead to a police investigation.
article_snippet: Earlier this year leaked documents emerged that suggested HSBC’s Swiss private bank helped clients dodge millions of pounds in tax.
article_snippet: The French authorities have since agreed that the account data, now held by the taxman, can be shared for the ‘purpose of investigating criminal offence’ and a meeting to discuss a probe has been held at which NCA was present alongside the Serious Fraud Office, the Financial Conduct Authority, the Crown Prosecution Service, City of London Police and EuroJust.
article_snippet: HSBC will come under fresh attack from MPs tomorrow when the Public Accounts Committee quizzes former taxman turned bank adviser Mr Hartnett.
article_snippet: Chairman Margaret Hodge said there was still a lot of work to be done in exposing tax-dodging by British companies.
article_snippet: I would be amazed if HSBC were alone.