The recent accusations against HSBC’s Swiss bank point to yet another instance of a company committing fraud on a regular basis and letting their clients face the consequences. Now more than ever, it’s important to work with businesses that are honest, trustworthy, and secure.
Swiss HSBC Prosecuted in France
The office of the French financial prosecutor recently requested a criminal trial over the tax-dodging activities of HSBC’s Swiss private bank, as a recent investigation revealed that the company’s Swiss arm enabled numerous French clients to commit tax fraud, often on an outrageous scale. According to Yahoo!, the hidden assets amount to around five billion euros.
The Guardian reports that 1.4 billion euros and now has a month to respond to the request for trial. The company has been in hot water before, with both English and American investigations finding instances of fraud and money laundering.
While the leaders of HSBC search for loopholes to avoid punishment, legal cases continue to be levelled against specific people who’ve used the bank for fraudulent purposes in both Geneva and France. HSBC may offer the foundation for these illegal activities, but it’s their clients who are now being forced to pay the consequences.
How does this keep happening? Companies should make fraudulent activities impossible for their clients, let alone common occurrences, but the insidious influence of a business like HSBC, it would seem, can make it difficult to say no.
Regardless of who is responsible for these ill-advised decisions, it’s a company’s job to protect their clients from legal harm, not the other way around. People should feel confident in their business choices, particularly when they are entrusting companies with their most private information. The best way to stay secure is to work with businesses you can trust.
Trust the Business, Not the Name
Because of our intense reliance on digital networks, fraud is easier to commit today than ever before. As one’s private information is scattered across the web, security and fraud protection are of the utmost importance.
When companies like HSBC -- some of the world’s most prosperous and well-known institutions -- are exposed as deeply disloyal, the consumer is left with the bewildering task of determining who is worthy of their trust.
Not all companies embroil their customers in economic scandals and lawsuits. Regardless of whether you’re entrusting your money to a bank or simply searching for partnerships that will optimise your business, it’s important to believe in the organisations you work with.
This scandal in France shows that it’s better to seek out companies and people you can trust, rather than blindly following the most noteworthy names in the industry.
Be Safe With Your Choices, Be Secure With LaunchPad
No matter if you’re a client or a company, choosing the right business partner should be a decision built on safety. LaunchPad’s video recruitment software helps companies maintain security in numerous forms. They boast enterprise-level data security. These kinds of precautions keep your information safe and your practices on the right side of the law.
The age of information can be hard to navigate, and not every business is worthy of their clients’ trust. Launchpad Recruits remains committed to the ideals of transparency and client protection. Put your trust in Launchpad, and others like them, to ensure that your business decisions are safe, secure, and financially beneficial.