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HSBC sheltered murky cash linked to dictators, arms dealers


An Indian Express Investigation in collaboration with Le Monde and International Consortium of Investigative Journalists
By: Gerard Ryle, Will Fitzgibbon, Mar Cabra, Rigoberto Carvajal, Marina Walker Guevara, Martha M Hamilton and Tom Stites
Secret documents reveal that global banking giant HSBC profited from doing business with arms dealers who channelled mortar bombs to child soldiers in Africa, bag-men for Third World dictators, traffickers in blood diamonds and other international outlaws.
The leaked files, based on the inner workings of HSBC’s Swiss private banking arm, relate to accounts holding more than US$100bn. They provide a rare glimpse inside the super-secret Swiss banking system — …read more

Source: The Indian Express

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