HSBC (HBC) cuts ties with wealthy Americans banking offshore, as U.S. government agencies...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) cuts ties with wealthy Americans banking offshore, as U.S. government agencies intensify crackdowns on offshore tax evasion. The global bank looks to avoid the heavy fines and prosecution levied at rivals caught sheltering money for wealthy U.S. customers evading taxes.