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HSBC Scandal Heightens Calls for Tougher Bank Oversight

The latest black eye to the global banking industry, the British-based HSBC Holding Plc secret account scandal, has heightened demands by activists and lawmakers in a number of nations for better transparency and accountability. And fingers are being pointed at some nations for not taking action sooner. Former HSBC Swiss private banking employee Herve Falciani handed the data about tens of thousands of that bank’s “private” accounts over to French authorities in 2008. That...

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