HSBC Swiss unit to pay $192 million in latest U.S. tax evasion deal | WHAT REALLY HAPPENED

HSBC Swiss unit to pay $192 million in latest U.S. tax evasion deal

The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million to resolve a U.S. probe of its role in helping wealthy Americans evade taxes by using undeclared Swiss bank accounts, the U.S. Department of Justice said on Tuesday.

The DoJ's deal with HSBC Private Bank (Suisse) SA is the latest in which numerous Swiss-based banks, including UBS and Credit Suisse Group, have paid billions of dollars in settlements and penalties for conspiring to help rich Americans dodge taxes.

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