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HMRC investigates after HSBC Jersey accounts blown

by David Sandham on Nov 09, 2012 at 07:58

HMRC investigates after HSBC Jersey accounts blown

A whistleblower has given HM Revenue & Customs details of every British client of HSBC in Jersey, according to The Telegraph.

The details included names, addresses and account balances of more than 4,000 people based in Britain who had bank accounts at HSBC in Jersey, and was given secretly to HMRC earlier this week, the newspaper said. 

A drug dealer, three bankers facing fraud allegations, and a man possessing more than 300 weapons at his house, are among the HSBC Jersey account holders, the newspaper claimed. The list also included several celebrities and other well-known figures.

The newspaper said that the list identified 4,388 people holding £699 million in offshore current accounts and they are also likely to have billions of pounds more in investment schemes.

3 comments so far. Why not have your say?


Nov 09, 2012 at 08:40

Whilst it is absolutely right that those undertaking unlawful activities are reported to the authorities, this indiscriminate action by the whistleblower in disclosing confidential information for all account holders will no doubt also result in quite a number of those account holders who have made full declaration of income from the accounts to HMRC and paid tax on the deposits being put to much stress of an HMRC enquiry. As far as I am aware, holding savings offshore is not unlawful. UK taxpayers have a duty to declare income and gains on worldwide income and gains and I am sure that the greater majority of law abiding citizens do so.

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Paul Barnard

Nov 09, 2012 at 09:05

Yes, I am slightly uncomfortable with this too, for the reasons given, but also as it does smack a bit of "denouncing", and must breach data protection rules. Should the whistleblower then be prosecuted, or will the authorities turn a blind eye? It's as unsavoury as the kiss and tell stories.

Whilst the proceeds of illegal activity and their owners should be prosecuted, I would prefer to see a robust police force investigating these matters.

Perhaps Phillip Schofield can let Call me Dave have a list too?

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Eamonn Dorling

Nov 09, 2012 at 09:46

It would make a good exam question in an Ethics paper .... For one mark who should be prosecuted? for another......

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