HSBC Switzerland

The Romanian Agency for Fiscal Administration, ANAF, is to verify whether there are differences between the money declared by the 50 HSBC clients and the amounts found in their accounts in Switzerland, according to media reports on Monday.

Any unreported income will be taxed at 16 per cent, ANAF officials were quoted as saying by Digi24 television. 

Investigators launched a search on Feb. 18 of British banking giant HSBC's Geneva offices as part of a money laundering probe following allegations the bank helped clients evade millions of dollars in taxes, Swiss prosecutors said.