Credit Suisse and HSBC, two of the world’s largest wealth managers, dismissed on Tuesday suggestions they were actively using offshore structures to help clients cheat on their taxes.
Their comments came a day after a leak of four decades of documents from a Panamanian law firm that specialises in setting up offshore companies showed widespread use of those instruments by global banks on behalf of their clients and triggered a raft of government investigations across the world.
The so-called “Panama Papers”, revealed through an investigation by the International Consortium of Investigative Journalists (ICIJ), exposed financial arrangements of politicians and public figures including …read more
Source: Daily News & Analysis
