5-speed listening (Level 1)

HSBC bank helped the rich hide money






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The BBC says the bank HSBC helped rich people hide money to not pay tax. The BBC looked at the details of thousands of bank accounts, worth $128 billion. An HSBC computer engineer in Geneva stole the details of more than 100,000 HSBC customers. The information shows that HSBC helped rich customers to hide their money from the taxman. A French banking team said 99.8% of French citizens on the list were probably hiding money.

HSBC said the bank has changed and it now has policies to stop rich people from hiding their money. A newspaper said HSBC knows it did not follow the law. A woman who complained when the bank did not change lost her job. Her job was to make sure HSBC followed the law. The BBC said that she complained so the bank fired her. The BBC said HSBC is now in court in the USA, France, Belgium and Argentina.

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