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HSBC faces criminal investigation in French tax case

Published Fri, Apr 10, 2015 · 09:50 PM
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London

THE British bank HSBC said on Thursday that it had been placed under formal criminal investigation by French magistrates examining whether its Swiss private bank assisted wealthy clients to avoid taxes.

Investigating magistrates in France have been conducting an inquiry into whether HSBC Private Bank (Suisse) helped individuals avoid their tax-reporting requirements from 2006 to 2007.

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