Friday, July 3, 2015

Banking giant HSBC's scandal

April 3, 2015 Secret documents reveal that the global banking giant, HSBC, profited from doing business with arms dealers, who channeled mortar bombs to child soldiers in Africa, traffickers in blood diamonds and other international outlaws. The leaked files, based on the inner workings of HSBC’s Swiss private banking arm, relate to accounts holding more than $100 billion. They provide a rare glimpse inside the super-secret Swiss banking system, one the public has never seen before. On this edition of the Economic Divide, we examine how a banking giant HSBC broke the law, while sheltering billions in offshore accounts.

No comments:

Post a Comment