Spectator on facebook

Spectator on facebook

Swiss HSBC helped clients dodge taxes

SWISS bank HSBC assisted people from other countries, including Slovakia, launder money and change it into poorly traceable cash from different series, to make it even more difficult to find.

(Source: Remy de la Mauviniere/TASR)

The International Consortium of Investigative Journalists (ICIJ) received documents suggesting that this money laundering involved 30,000 accounts of 106,000 clients – out of which 146 are somehow connected to Slovakia.

 “We acknowledge and are accountable for past compliance and control failures,” the bank said in a statement, as quoted by the Guardian. The Swiss arm, the statement said, had not been fully integrated into HSBC after its purchase in 1999, allowing “significantly lower” standards of compliance and due diligence to persist, the daily wrote.

ICIJ has not revealed Slovak firms or people who are involved in the case and Slovak police have not yet said whether they will ask for the list of accounts to investigate so-called Swiss Leaks.

Also, the garage company Interblue Group obtained its money for the sale of Slovak excessive carbon-dioxide quota through HSBC in 2009. 

 

Top stories

EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár