I-T Dept probing HSBC list of accounts: Chidambaram

December 17, 2012 20:59

The government today informed Parliament that the income tax department and its other wings are probing the information received with regard to foreign bank accounts of individuals and entities with HSBC bank.

"HSBC's list of accounts is being investigated by the income tax department and other departments," Finance Minister P Chidambaram said during a discussion on the Prevention of Money Laundering (Amendment) Bill in the Rajya Sabha.

The case of money laundering, he said, would arise only if there was a predicate offence and the proceeds were used for money laundering purposes.

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