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EDITORIAL

Banks & regulators must counter tax cheats and stay business-friendly

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The scandal that has erupted anew over HSBC's apparent role in helping clients evade taxes through Swiss bank accounts is one that has played out several times in the recent past in the financial industry.

THE scandal that has erupted anew over HSBC's apparent role in helping clients evade taxes through Swiss bank accounts is one that has played out several times in the recent past in the financial industry.

In 2009, UBS paid US$780 million to settle a tax evasion probe by the US Justice

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