Entries in Tax Evasion (17)
The DOJ said this week that Société Générale Private Banking Suisse and another bank, Berner Kantonalbank AG, reached resolutions under the DOJ's Swiss Bank Program.
Admittedly, we're surprised to write that headline several weeks after “tax day” in the United States. However, a common theme emerged during a recent World Bank Group program on tax evasion: there's currently an unprecedented level of enthusiasm, political will and momentum in support of combating global tax evasion and avoidance.
The Federal Reserve Board said Monday it barred five former private bankers and senior managers of Credit Suisse AG from working in the banking industry.
HSBC said in a statement Thursday that French magistrates ordered a formal criminal investigation ("mise en examen") into HSBC’s Swiss Private Bank for alleged tax-related offenses.
Lugano-based BSI SA on Monday became the first bank to use a DOJ amnesty program to resolve potential criminal offenses for helping U.S. taxpayers use secret accounts and offshore shell companies to evade taxes.
Prosecutors in Switzerland searched the offices of HSBC's private bank in Geneva Wednesday as part of an investigation into money laundering.
More than 77,000 foreign banks and other financial institutions agreed to share information about U.S. account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.
After a multi-year investigation into Credit Suisse's use of illegal offshore bank accounts, the DOJ Monday announced the bank's guilty plea and the largest-ever monetary penalty in a criminal tax case.
Here's the full FCPA disclosure from HP's Form 10-K filed with the SEC on March 11, 2014: