A data leak revealing details of some of HSBC’s wealthiest clients has made headlines around the world over the weekend, detailing how the private bank assisted clients with tax evasion and denied governments in their home countries billions of dollars of revenue.
“Old-wealth families” are among the private banking clients HSBC helped evade tax, according to the International Consortium of Investigative Journalists (ICIJ), as well as celebrities, politicians and people associated with arms trafficking, blood diamonds and bribery.