Things just got worse for HSBC: Here’s what you need to know

Things just got worse for HSBC.

Its private banking arm faces new criminal charges after a French magistrate officially requested that the Swiss bank be brought to trial over a suspected tax-dodging scheme for wealthy customers, the Guardian reports.

The request for trial comes after a series of allegations against the bank that date back to 2008, when former HSBC employee Herve Falciani handed over thousands of confidential files from the bank to French tax authorities.

Read more: http://www.businessinsider.com/explanation-of-hsbc-tax-evasion-scandal-2015-3#ixzz3UN5033cu