Swiss Government Raids Geneva HSBC Office; Fall Out Pending

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3 years ago

The Department of Justice Tax Division has been investigating HSBC in Switzerland since 2010. With the recent Swiss Leaks (team of journalists from 45 countries) that unearthed secret bank accounts maintained for criminals, traffickers, tax dodgers, politicians and celebrities, the Swiss government took action by raiding the Geneva office. Undoubtedly, this is only the beginning of the issues that HSBC will encounter as more information comes to light. Any United States taxpayers that have undisclosed accounts or assets with HSBC need to immediately come forward and take advantage of the IRS OVDP or Streamline Filing programs.

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