It has set aside $ 773 m to deal with the financial impact from investigations led by tax and law enforcement agencies in India , the Netherlands , France and Belgium , the bank said in a statement . In 2015 , the Indian tax authority informed HSBC it had sufficient evidence to prosecute HSBC Swiss Private Bank and a Dubai - based HSBC subsidiary for abetting some of its customers ' evasion of tax . Previously , the Royal Bank of India 's ( RBI 's ) scrutiny of Bank India 's processes revealed the bank approved a decoy account to open a dubious account among other inconsistencies , although a fine has not been agreed .
HSBC has set aside $773m to deal with the financial impact from investigations led by tax and law enforcement agencies in India, the US, France and Belgium, the bank said in a statement. In 2015, the Indian tax authority informed HSBC it had sufficient evidence to prosecute HSBC Swiss Private Bank and a Dubai-based HSBC subsidiary for abetting four of its customers' evasion of tax. Previously, the Royal Bank of India's (RBI's) scrutiny of HSBC India's processes revealed the bank approved a decoy customer to open a dubious account among other inconsistencies, although a fine has not been agreed.