Market Talk – April 2, 2025
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 increased 101.39 points or 0.28% to 35,725.87 • Shanghai increased 1.69 points or 0.05% to 3,350.13 [...]
Hunt for Taxes: Safe-Deposit Boxes Under Attack
HSBC is altering its oversight of safe-deposit boxes in Hong Kong. Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a safe-deposit box is now considered money laundering. Governments want their taxes and all the laws are changing to ensure they get their money.
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