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Hsbc Investigating Claims Of Criminal Account Holders


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http://www.bbc.co.uk/news/business-20265125

 

HSBC bank says it is looking into allegations that criminals have used offshore accounts at its Jersey operation for money laundering.

 

The bank issued a statement after the Daily Telegraph newspaper said it was at the centre of a major investigation by HM Revenue and Customs.

 

HSBC said it was investigating "an alleged loss of certain client data in Jersey as a matter of urgency".

 

But it added it had not been contacted by HMRC or any other authority.

 

According to the Daily Telegraph, the tax authorities have obtained details of "every British client of HSBC in Jersey" based on information provided by a whistle-blower this week.

 

It is reported that the 4,000 offshore account holders include a well-known drug dealer living in Central America, bankers who face allegations of fraud and a man once dubbed London's "number two crook".

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Its amazing what disgruntled employees are prepared to do in a recession

 

http://www.bbc.co.uk...siness-20265125

 

There must be a lot of twitchy arses around in Jersey at the moment, I wonder if the same could happen with any bank here?

 

Are HMRC actively offering to reward disgruntled bank staff for their efforts?

 

Edited to add Telegraph article

 

http://www.telegraph...ggest-bank.html

 

I quote

 

"HM Revenue and Customs (HMRC) has paid hundreds of thousands of pounds to whistle-blowers in return for information about offshore account holders. German authorities reportedly paid €2.5 million (£1.9 million) to an unnamed individual for a CD containing details of HSBC clients in Switzerland in 2010."

Edited by localyokel
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The 'Lagarde List' must also have got people a bit nervous. I gather in the UK HMRC will not prosecute people on the list provided that they pay tax owing and penalties. Pluses and minuses of that I suppose. It's an incentive to get the money in with less fuss which is good. It sends a mesage that under certain circumstances you can break the law and not be prosecuted.

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I heard a rumour (from one of their ex-customers) that the black horse lot here released details of his account to HMRC probably without any payment.

 

Over here we have been operating the European Union Savings Tax Directive for some time and HMRC will have details of all relevant accounts. No payment would have been needed.

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I heard a rumour (from one of their ex-customers) that the black horse lot here released details of his account to HMRC probably without any payment.

 

Over here we have been operating the European Union Savings Tax Directive for some time and HMRC will have details of all relevant accounts. No payment would have been needed.

Same in Jersey?

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I gather in the UK HMRC will not prosecute people on the list provided that they pay tax owing and penalties. Pluses and minuses of that I suppose. It's an incentive to get the money in with less fuss which is good. It sends a mesage that under certain circumstances you can break the law and not be prosecuted.

 

I think it also reflects the reality that involving the beagles would probably cost more in a complex case than the collectable tax given the exotic fees that abound.

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It is fair to say that most of these 4000 odd accounts are legitimate. For example, uk non-doms, people working abroad or on ships / oil rigs, etc. a very common occurance.

 

Additionally, with regard to KYC and source of funds, banks requiring this indormation is a relatively new requirement, prior to which money was money provided it was from aanother legal entity (e.g. another bank).

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