Cyprus Mail
World

Britain’s HSBC says sorry over past standards at Swiss bank

By Paul Sandle and Steve Slater

HSBC apologised to customers and investors on Sunday for past practices at its Swiss private bank after allegations that it helped hundreds of clients to dodge taxes.

Europe’s largest bank said in full-page advertisements in British newspapers that recent media coverage that focused on the Swiss operation and financial affairs of some of its clients had been a painful experience and that standards in place today “were not universally in place” in the past.

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