CLEAN : HSBC to pay nearly 300 million euros to end Belgian probe

The transcript discusses HSBC Private Bank's financial provision and a penal transaction with the Brussels prosecutor's office, amounting to 294.4 million euros, plus a civil indemnity of 400,000 euros to the Belgian state. The agreement requires approval from the Chamber of Council, which may reject it if legal conditions are unmet. HSBC was suspected of facilitating tax evasion through offshore companies, particularly for diamond traders in Versoie. The investigation into these activities began in 2014.

What was the total amount involved in the penal transaction between HSBC and the Brussels prosecutor's office?

• 150 million euros

• 200 million euros

• 294.4 million euros

• 400 million euros

What additional compensation was included for the Belgian state in the agreement?

• 500,000 euros

• 1 million euros

• 400,000 euros

• 200,000 euros

What could the Council Chamber potentially do regarding the penal transaction?

• Approve it without conditions

• Refuse to approve it

• Increase the compensation amount

• Delay the decision indefinitely

What was HSBC suspected of doing with offshore companies?

• Using them for charity work

• Using them for internal investments

• Providing them to clients to avoid taxes

• Selling them to government officials

Who were some of the clients involved in the offshore company suspicions?

• Diamond dealers in Versoie

• Tech entrepreneurs

• Government officials

• Real estate agents