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Deferred Prosecution Agreement Switzerland

“In this case, HSBC will pay Switzerland a total civil and criminal fine of more than $192 million, including a civil loss of $71.8 million, for revenues illegally derived from their conduct. We continue to work to investigate and prosecute those who evaded their taxes and the financial institutions that help them do so.¬†According to court documents filed under the CCA, the bank helped U.S. customers hide their offshore assets and income from U.S. tax authorities. In line with the BA`s 2017 annual report and in line with OECD recommendations, the BA has stated that it will no longer allow reparations as a justification for impunity (Article 53 of the Criminal Code) in criminal investigations against internationally active companies. .

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