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3 years ago
UK's SFO says open to talks with tax authority over HSBC data leak
February 12, 2015 / 12:06 PM / 3 years ago

UK's SFO says open to talks with tax authority over HSBC data leak

LONDON, Feb 12 (Reuters) - Britain's Serious Fraud Office (SFO) said it was open to discussion with the country's tax authority over allegations that banking giant HSBC's Swiss subsidiary helped people avoid paying tax.

"We are open to discussion and happy to help in any way we can," a spokesman said on Thursday after the BBC reported that UK tax authority HMRC was likely to meet both the SFO and police as it expands its investigation amid a scandal engulfing Europe's biggest bank.

After details of the leak were revealed this month of HSBC's Swiss subsidiary's customer list and media reports that said it helped wealthy customers avoid taxes and conceal millions of dollars of assets, HSBC has admitted failings in compliance and controls at the unit. (Reporting by Kirstin Ridley; editing by Jason Neely)

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