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HSBC accused of setting up offshore accounts in Jersey for 'drug dealers, fraudsters'

Source : ANI
Last Updated: Sat, Nov 10, 2012 06:00 hrs

British banking giant HSBC is now facing another potential scandal over claims that it had set up offshore accounts in Jersey for suspected drug-dealers and fraudsters.

HM Revenue and Customs launched an investigation after a whistleblower leaked details of 700 million pounds allegedly held in over 4,000 accounts hidden in the island tax haven.

Those whose account details were leaked to HMRC are said to include Daniel Bayes, a suspected drug-dealer now living in Venezuela, the Daily Mail reports.

The list also includes a man convicted of owning 300 weapons at a property in Devon, three bankers facing fraud allegations, and a man known as London's 'number two computer crook', said a report by the Daily Telegraph.

According to the paper, many of the account-holders are now being probed for tax evasion, while HSBC could face sanctions from regulators if it is found not to have flagged up suspicious deposits to the Jersey authorities.

The latest revelations come just months after it emerged that HSBC allowed rogue states and drug cartels to launder billions of pounds through subsidiaries in the US and Mexico. (ANI)




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