'Rogue trading' incidents, where a single employee can apparently lose billions without the knowledge of his bosses - can seem unbelievable if you don't have first-hand experience of investment banking.
The U.S. pursuit of offshore tax evaders is widening to include Israel, where U.S. authorities are scrutinizing three of Israel's largest banks over suspicions their Swiss outposts helped American clients evade taxes, people briefed on the matter sai
UBS AG, Switzerland’s biggest bank, asked British police at 1 a.m. to arrest Kweku Adoboli before notifying the U.K. financial regulator or prosecutors, according to two people familiar with the matter.
HSBC Holdings Plc clients with accounts at its Swiss private bank in Geneva are the target of a widening investigation by U.K. authorities into alleged tax evasion, according to two people familiar with the matter.
Switzerland's ambassador to the United States, Manuel Sager, has penned a letter strongly refuting “claims that Switzerland is fighting against handing over bank information about Americans who have cheated on their taxes.“