One of Europe’s biggest banks HSBC is being investigated by the UK Tax authorities the was leaked to a newspaper that it provided tax shelter for UK criminals in jersey
The uk authorities have given confirmation that they are Investigating the detail after being given a list of names addressees and account balances
Aims review Noted
The Uk HM Revenue & Customs have issued a statement saying that they can confirm that we have received data and we are studying it, to ensure that UK tax rules are being respected.
HSBC said it is looking into how the alleged client data has gone missing and is a matter of urgency
The uk newspaper the daily telegraph has said that some of the clients where convicted criminals
The bank said on Friday that it had not been contacted in relation to any Investigation by HMRC or any other organization if we were contacted we will fully cooperate with the authorities
This is one of the banks that were looked at by the United States regulators for very loose anti money laundering controls. Last year thousands of British residents’s where being investigated by the uk taxman as they had Swiss bank accounts and are now being heavily scrutinized.
Mean while the share price of HSBC fell 33% to 600.9 pence on Friday,