Banking giant HSBC helped wealthy clients across the world evade hundreds of millions of pounds worth of tax, the BBC has learned.

A wistleblower in a swiss bank gave the press 100.000 accounts of tax-criminals among the global elite.
A wistleblower in a swiss bank gave the press 100.000 accounts of tax-criminals among the global elite.

Panorama has seen accounts from 106,000 clients in 203 countries, leaked by whistleblower Herve Falciani in 2007. The documents include details of almost 7,000 clients based in the UK.

HSBC admitted that it was “accountable for past control failures.” But it said it has now “fundamentally changed”. “We acknowledge that the compliance culture and standards of due diligence in HSBC’s Swiss private bank, as well as the industry in general, were significantly lower than they are today,” it added.

The bank now faces criminal investigations in the US, France, Belgium and Argentina, but not in the UK, where HSBC is based.
HSBC said it is “co-operating with relevant authorities”.

Source: The BBC.

My comment:

There are many positive sides of a constructive tax-regime, that leads to redistribution and a fair sharing of burdens.  The book of Acts chaper 2 and 3 display the ultimate Christian way of taxation.

 Acts 2:45
They sold property and possessions to give to anyone who had need.

A tax system can also be turned into a modern form of slavery. The rulers of nations can enslave you to pay taxes through your teeth. Hundreds of millions of people are today enslaved subjects of the banking system and tax authorities.

The World is under the control of the evil one, and the global elite are the lords of the tax-systems. They are also the owners of the banks. Obviously they have formed cross-border illuminaties that protects their interests.  The love of money is the root of all kinds of evil. The global elite help each other to hide their stolen cash and assets. Stolen from the people, who they have enslaved. Related to tax issues, double standards and outright hypocricy comes to us unlimited.

 1 John 5:19
We know that we are children of God, and that the whole world is under the control of the evil one.

In the coming days we will see crocodile tears from leaders, who will confess they have been tax avoiders. But nothing will change with the unjust system. Common man seems to be too busy watching soaps on TV, to join a popular uprising.  Lukewarmness and apathy will set the agenda in the days just before the return of Jesus the Messiah.  But you are not lukewarm, I suppose?

Written by Ivar