According to a report this morning in the Daily Telegraph, the bank is being investigated by HM Revenue & Customs after a whistleblower provided it with details of 4,000 UK clients said to include bankers accused of fraud, a “well known” drug dealer and a man reportedly once dubbed London’s “number two crook”.
HSBC released a statement this morning denying any knowledge of the investigation, but said it is looking into the allegations. The statement read: “We are investigating the reports of an alleged loss of certain client data in Jersey as a matter of urgency.
“We have not been notified of any investigation in relation to this matter by HMRC or any other authority but, should we receive notification, we will cooperate fully with the authorities.
HSBC remains fully committed to adoption of the highest global standards including the procedures for the acceptance of clients.”
Meanwhile, Geoff Cook, chief executive of Jersey Finance, a body which represents the finance industry in the jurisdiction, stepped in to defend the island.
“This is a serious matter and we note HSBC’s immediate commitment to co-operating with any investigations carried out by the relevant authorities and welcome the clear position taken by the JFSC, that any failure to adhere to Jersey’s clear standards will be robustly investigated and acted upon,” said Cook.
“Jersey is a well-regulated international finance centre with a strong track record in compliance with international standards. The swift and thorough investigation of this matter will further demonstrate Jersey’s ongoing commitment to those standards.”
