HSBC has also bankrolled logging companies causing widespread environmental destruction and human rights abuses.
9th February 2015
Sunday 8th February, 2015: HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files. (The Guardian)
HSBC has bankrolled logging companies causing widespread environmental destruction and human rights abuses in Sarawak, Malaysia. It has earned around US$130 million in return and has violated its own sustainability policies. The bank is also providing financial services to companies widely suspected of engaging in bribery and corruption. This Global Witness investigation uncovers the role played by commercial finance in facilitating forest-related crime.
Just Forests posted this report on 7th December 2012...MORE>>>>>>>>