HMRC calls in police and fraud office over HSBC tax leak scandal

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A whistleblower leaked documents about accounts held with HSBC’s Swiss private bank and information on accounts held by Britons were handed to HMRC in 2010.

But fresh revelations about their content, and their holders, have appeared in the media in recent days.

The taxman is now broadening its probe into the accounts and wants to “collaborate” with other agencies, BBC News reported.

If the SFO and the police launch separate investigations, that would be a serious escalation for HSBC, it added.

 

HSBC, the UK’s biggest bank, has admitted past failings by its Swiss subsidiary in response to the allegations.

But it has denied that all the Swiss account holders had evaded tax and said it was “co-operating with relevant authorities”.

It now reportedly faces criminal investigations in the US, France, Belgium and Argentina, but not currently in the UK.

Source Article from http://www.standard.co.uk/business/business-news/hmrc-calls-in-police-and-fraud-office-over-hsbc-tax-leak-scandal-10040829.html

February 12, 2015 |
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