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HSBC's Swiss HQ was raided on Wednesday as part of an inquiry into alleged tax avoidance. (Photo: George Rex)

HSBC offices raided as tax scandal deepens

Swiss prosecutors searched the offices of the Geneva subsidiary of UK banking giant HSBC bank on Wednesday (18 February) as the inquiry into alleged money-laundering by the bank deepened.

In a statement, the Geneva prosecutor said that “a search is currently underway in the premises of the bank, led by Attorney General Olivier Jornot and the prosecutor Yves Bertossa" into what it described as “aggravated money-laundering”.

The scandal broke after Herve Falciani, a former IT worke...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

HSBC's Swiss HQ was raided on Wednesday as part of an inquiry into alleged tax avoidance. (Photo: George Rex)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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