UK revenue service examining allegations that offshore HSBC accounts used for money laundering

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In this July 30, 2012 photo, people walk past a logo of HSBC headquarters in Hong Kong. THE CANADIAN PRESS/AP, Vincent Yu

LONDON – Britain’s revenue and customs service says it is examining allegations that criminals may have used offshore accounts with HSBC, Europe’s biggest bank, to launder money.

Her Majesty’s Revenue and Customs said Friday that it had received data related to the allegations and was studying it.

In a report, the Daily Telegraph newspaper alleged that a list disclosed by a whistleblower had shown drug dealers and other criminals were using accounts based in Jersey.

It said the list identified 4,388 people holding 699 million pounds (US$438 million) in offshore current accounts.

Jersey, a British dependency off the coast of France which has its own currency and tax laws, is a major offshore financial centre.

HSBC said it was also investigating the allegations and the purported loss of client data in Jersey.

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