HSBC, a multinational banking and financial services company, has been embroiled in several high-profile scandals related to tax evasion, money laundering, and currency manipulation. In 2012, a leaked cache of internal documents known as the "Swiss Leaks" revealed that HSBC helped wealthy clients evade taxes by setting up offshore accounts in Switzerland. The bank also admitted to laundering money for drug cartels and other criminal organizations, and was fined a record $1.9 billion in 2012 for its involvement in currency manipulation schemes. These scandals eroded public trust in HSBC and resulted in significant regulatory sanctions and fines, damaging the bank's reputation and tarnishing its image as a pillar of the financial industry.
