HSBC is in the net

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The New York Times has reported that US Federal investigators looking at tax abuse by UBS have extended the scope of their investigation to Credit Suisse, and UK based bank HSBC. It has said:

HSBC, which is based in London and is Europe's largest bank, is a global financial giant with large retail, private, asset management and investment banking operations across the United States and Asia. Credit Suisse, which is based in Zurich, is also one of the world's largest private banks, with significant operations in the United States.

The investigation into HSBC and Credit Suisse began about September and is focusing on whether the two banks helped wealthy American clients hide up to $30 billion in offshore accounts that went undeclared to the Internal Revenue Service, the people briefed on the matter said.

It's a while since I described HSBC Chairman, Rev Stephen Green, as the UK's biggest provider of corruption services, but it's good to see some others picking up the trail.