News & Events

Category: UBS / HSBC

IRS Sends Treaty Request to HSBC

Offshore Account Update, UBS / HSBC

Posted in on June 29, 2016

The Internal Revenue Service (IRS) and the U.S. Department of Justice have been going after Swiss banks for years for allegedly facilitating tax evasion among U.S. residents. The Swiss Bank Program was created in order to encourage banks to come forward, pay a fine and report account information voluntarily to the IRS. Banks that came forward could avoid criminal prosecution.

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UBS Whistleblower Assists in Investigation of Swiss Bank


Posted in on June 12, 2015

The effort to fight against tax evasion is a global one. Not only have countries joined together to require the reporting of offshore accounts but taxing authorities throughout the world are also conducting their own independent investigations against banks that facilitate tax evasion.  UBS AG, in particular, has been targeted by multiple countries. The United States launched a full-scale investigation of the bank and settled the case back in 2009. Now, France is also conducting an investigation into the same bank.

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UBS Faces a New Tax-Evasion Probe

Offshore Account Update, UBS / HSBC

Posted in on April 24, 2015

The crackdown on banks continues, as UBS AG once again faces legal questions from the IRS and the Justice Department.  Federal authorities are not only going after banks that helped clients hide cash in offshore accounts, but they are now looking at whether UBS AG facilitated the purchase of investments that are banned in the United States. The new DOJ and IRS probe is focused on whether UBS allowed the purchase of bearer securities as part of efforts to help clients evade US tax obligations.

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Court Grants IRS "John Doe" Summonses on US Banks!

Offshore Account Update, UBS / HSBC

Posted in on November 13, 2013

IRS issues summonses to five US Banks for account holders suspected of tax evasion.

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DOJ's Latest Offshore Account Conviction!

Offshore Account Update, UBS / HSBC

Posted in on October 29, 2013

Patricia Lynn Hough, of Englewood, Fla., was convicted today by a jury in Fort Myers, Fla., of conspiring to defraud the Internal Revenue Service.

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