HSBC Swiss unit says has made changes to prevent tax evasion

9th February 2015, Comments 0 comments

HSBC's Swiss banking arm, which according to leaked documents helped wealthy customers avoid millions in taxes in the past, insisted Monday it has since undergone a "radical transformation".

"HSBC's Swiss Private Bank began a radical transformation in 2008 to prevent its services from being used to evade taxes or launder money," Franco Morra, the head of HSBC's Swiss unit, told AFP in an email.

© 2015 AFP

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