HSBC Bank pays 192 million dollars to settle tax returns

HSBC Bank pays 192 million dollars to settle tax returns

 

HSBC Bank today announced the payment of 192 million dollars in fine to settle US tax-related decisions that lasted for

more than ten years, as the British bank acknowledged that it had leniently allowed US customers to hide assets of more than $ 1 billion from the Tax Authority.

A Florida court decision was issued against the bank's private banking unit in Switzerland, where it was charged with conspiracy and fraud in the United States.

But at the same time, the court gave the opportunity to drop those charges after three years, if the agreement reached was reached.