HMRC have formally agreed with French authorities that HSBC can share stolen HSBC Suisse Customer date with other regulators and law enforcement agencies in order to pursue criminal offences. The decision was announced by HMRC’s Chief Executive Lin Homer, in a Treasury Select Committee hearing.
The data was received by HMRC under strict international treaty conditions from French officials in April 2010. The condition for releasing this information was for the data to be used for tax purposes only, preventing HMRC sharing it with other law enforcement authorities. In August 2010 HMRC requested for the condition to be removed. Following a number of more recent representations, the French authorities gave written confirmation on 23 February that they were lifting restrictions on the use and sharing of the data with other law enforcement agencies and regulators for the purpose of investigating criminal offences.
HMRC has arranged a multi-agency meeting next week, to discuss how the stolen HSBC Suisse data can be shared with them. The agencies are the Serious Fraud Office, the Financial Conduct Authority, Crown Prosecution Service, City of London Police, National Crime Agency and EuroJust.
HMRC has already been in discussion with some of these agencies about the potential for further investigation of crimes or offences.
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