Tax Avoidance (HSBC)

Part of Oral Answers to Questions — Home Department – in the House of Commons at 3:34 pm on 9th February 2015.

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Photo of David Mowat David Mowat Conservative, Warrington South 3:34 pm, 9th February 2015

Three years ago, HSBC was fined $2 billion for acting as money launderers for Mexican drug cartels. Those transactions, and those that we are discussing today, both happened before 2010. Is the Financial Secretary confident that the measures we brought in subsequently will stop either case from happening again? Has he had a discussion with HSBC regarding continued transgressions of this type and its banking licence?