HSBC helped clients from Serbia to evade taxes and hide million dollars

Swiss subsidiary of British HSBC bank helped rich clients, including clients from Serbia to evade taxes and hide million dollars, the data published by consortium of research newspapers and European media show.

The list of clients generated based on secret data of Swiss HSBC bank, the largest number is the Swiss, followed by the French, British, Italians, Israeli and Americans.

When it comes to the number of clients, Serbia ranks 106, which comprises citizens of 200 countries, with 38 clients who were hiding cash at accounts of HSBC in Switzerland while there is a total of USD 46,6 m 121 at the list when it comes to total amount.

When it comes to the number of clients, Croatia ranks 107, Macedonia 157, Bosnia and Herzegovina 164, Albania 194, Montenegro 132 and Slovenia 146.

Data on Swiss Leaks were obtained within international media cooperation, including The Guardian, Mond, BBC Panorama and Washington International Consortium for research journalism.

The data showed that Swiss bank enabled clients to withdraw large amount of cash, often in foreign currencies which are used in Switzerland so much.

At the same time, HSBC developed schemes which enabled rich to evade taxes in Europe and helped some clients to hide unregistered accounts from tax authorities of their country. HSBC enabled opening of accounts to international criminals, corrupted businessmen and other people of “high risk”.