Argentina orders HSBC’s local unit to name new president
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Argentina's central bank on Tuesday ordered HSBC Argentina to name a new president and vice president within 24 hours, accusing the bank of failing to establish necessary controls to prevent tax evasion and money laundering.
Argentine authorities locked horns with HSBC in November when they charged the bank with helping more than 4,000 clients evade taxes by stashing their money in secret Swiss bank accounts.
HSBC rejected the charge, but Argentina Read more [...]