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Crime Solicitors

HMRC launches investigation into global financial institution suspected of tax evasion and money laundering (4 April 2017)

Date: 04/04/2017
Duncan Lewis, Crime Solicitors, HMRC launches investigation into global financial institution suspected of tax evasion and money laundering

HM Revenue and Customs (HMRC) has announced that it is working with international partners in an investigation into suspected tax evasion and money laundering by an unnamed global financial institution.

In partnership with authorities in the Netherlands, Australia, Germany and France, HMRC has launched a criminal investigation into the institution and some of its employees.

In statement, HMRC said that the first phase of the investigation – which will see further, targeted, activity over the coming weeks – is focused on senior employees from within the institution, along with a number of its customers.

“The international reach of this investigation sends a clear message that there is no hiding place for those seeking to evade tax,” an HMRC statement read.

“Promoters and facilitators of tax evasion schemes and their customers need to wake up to reality and accept that attempting to hide wealth overseas or within institutions doesn’t work – and doesn’t place them out of our reach.”


Alongside this new investigation, HMRC is currently investigating more than 1,100 cases of offshore tax evasion around the world – and has brought in more than £2.7 billion from offshore tax evaders since 2010.

The government has introduced tough new powers, increased penalties, and “game changing measures” to help HMRC tackle offshore tax evasion.

As recently as the summer Budget 2015, the government gave HMRC an additional £800 million to invest in compliance and tax evasion work.

Additionally, the government has also been pivotal in increasing global financial transparency among more than 100 countries – including British Overseas Territories and Crown Dependencies – by automatically sharing offshore account data.

This additional data will help identify and pursue tax evaders still hiding money offshore.

The UK is also introducing a new corporate criminal offence for corporations that fail to prevent the facilitation of tax evasion – this new power will be introduced in 2017 and will ensure that those who fail to show due diligence over the services they provide could face prosecution.

Last year, HMRC collected and protected a record breaking £26 billion in compliance yield – money that would otherwise have gone unpaid.

The offshore specialists in HMRC’s Customer Compliance Fraud Investigation Service are currently investigating more than 1,100 cases of offshore evasion around the world, with more than 100 individuals subject to current criminal investigation.

Duncan Lewis Business Crime Solicitors

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Our specialist business crime solicitors advise on false accounting, failure to keep adequate records, breach of bankruptcy restrictions, embezzlement, VAT and tax evasion, misrepresentation, company fraud, financial fraud and white collar crime.

Duncan Lewis Solicitors can liaise with investigating authorities, including HMRC, The Insolvency Service, SFO, FCA, BEIS and City of London Police.

There are Duncan Lewis offices across England and Wales – and a Duncan Lewis criminal defence lawyer can usually reach a police station for interview under caution within an hour. Duncan Lewis is a leading provider of Legal Aid criminal defence services.

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For expert legal advice on all business offences, call Duncan Lewis business crime solicitors on 0333 772 0409.

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