by Graham Vanbergen
There are a number of interesting facts and figures emanating from the various offshore leaks of recent times. One of them involves Britain’s tax office HMRC, where there is a history of double dealing when it comes to tax haven transparency.
Last February HSBC’s Swiss banking arm got caught ‘red-handed’ assisting wealthy customers concealing millions of dollars of assets and then literally and quite unbelievably found to be handing out bricks of untraceable currency to them. HSBC was, at the same time, providing these clients the facilities and information needed to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files.
The leak clearly demonstrated that HSBC was providing account facilities to international criminals, corrupt businessmen and other high-risk individuals from all over the world, Britain included.
The leaked HSBC files, which covered the period 2005-2007, amounted, at the time, to the…
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