The UK’s HM Customs and Revenue (HMRC) has reportedly clawed back £135 million from clients that were named on a leaked list of HSBC’s private banking operation in Switzerland.
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The tax authority told a parliamentary hearing that one person had been prosecuted from a list of 24,000 HSBC Private Bank clients leaked by former employee Herve Falciani, who said he wanted to expose tax evasion, according to the Telegraph.
The leak led to a French probe into HSBC to determine whether it had also helped French customers avoid taxes. Britain and Spain followed suit.
HMRC figures showed that Britain recovered less than Spain, which recovered £220 million, while France retrieved £188 million, the Telegraph reported.
Britain pursued up to 3,800 taxpayers for payments, with the preferred option through voluntary settlements rather than prosecution, HMRC said.
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By GlobalDataIt added that 13 investigations were ongoing.
