HSBC - Home Service for Swiss Banking!

The disclosures made by Kejriwal's against HSBC at today's (9-Nov-2012) press conference have very far reaching and serious implications.

It has been alleged that an international HSBC has provided door-service for

• opening accounts
• collecting and transferring funds to the Swiss accounts
• receiving funds from the Swiss accounts and delivering them as and where sought by the account holders.

All the account holders had to was make a phone call and everything was done for them at their doorstep.

According to the allegations crores and crores of funds have moved in and out of the country without even having the account holders to even leave their house.

Can the average Indian citizen even imagine of opening a saving account so easily!!

Implications

This means that a person could transfer funds from any place to any place through HSBC's Swiss Account with complete anonymity. No wonder so much black money is able to circulate in the system causing so much harm to the entire world.

Terrorists, criminals and corrupt rich could deploy their funds wherever they wanted.

Frightening - very frightening


USA had already taken cognizance of this functioning of HSBC and hauled up the bank earlier. It seems that US have even warned the Indian Government about this. A warning that had been casually brushed aside.