Swiss Leaks

Credit Suisse bank, still reeling from losing billions of dollars last year, faced a fresh challenge Sunday: allegations from an international investigation that it had handled dirty money for decades.

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. 

No "Lagarde List" idleness on the part of French prosecutors this week, as the heir to the Nina Ricci perfume and fashion fortune was convicted of tax fraud in a Paris court after stashing millions of untaxed euros in a HSBC bank account.

The disclosure of leaked HSBC documents revealing how the Swiss branch of the banking multinational facilitated some of its wealthy clients, including several Greek citizens, to conceal millions in assets, caused global uproar last month.

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.
      

Amid the continuing fall out over the HSBC scandal, a journalistic project in Romania has named a key figure in the ruling party as one of those who held secret accounts in the Swiss branch of the British bank.

"Swiss Leaks" affair: Serbian tycoons were also hiding money in Swiss HSBC bank Serbian citizen brought 20 million euros in HSBC in a suitcase

Among numerous secret accounts in Swiss bank HSBC there are those belonging to some rich Serbian citizens.

HSBC, the UK's biggest bank, helped rich customers to dodge paying tax by allowing them to set up secret accounts in Switzerland.

Croatian government officials say they will  reveal the names of companies and individuals from Croatia that are among the clients with secret accounts in the Swiss branch of Britain's HSBC bank.

The former HSBC employee who leaked sensational secret documents alleging the bank helped wealthy customers dodge millions of dollars in taxes warned Tuesday that the revelations are just the "tip of the iceberg."

Istanbul is going through active days because of Turkey?s G-20 presidency. Due to this, G-20 finance ministers and central bank governors were holding meetings in our city.

Before them, International Finance Institute held a conference in Istanbul. In the ?Reinvigorating growth, reducing inequality? session, the focus was ?transparency.?