Those naughty banks; luckily the government are on their case.....

[BadFish]

possibly, but the article implies they've wrapped up their investigation. getting £135m out of 1100 individual sounds like a pretty decent haul, £123k each on average.



i dont trust any "whistle blower" that doesnt go to authorities immediatly. to sit on this sort of information for years would serve little purpose other than fraud in my mind. just to capture it and remove from the system in the first place, rather than alert the authorities, makes the motivation suspicious. thats why i raised it, because i'd be very concerned how it was lifted without detection, especially given the high value nature. if they dont protect the wealthy customers they cant care much for rest of us and while this isnt "news" within IT security circles, that certainly should be of great concern to the general public.

Without wishing to get into this side of the story. You have said this person 'could' have taken banking information from ordinary people and that he sat on the information he got.

To be fair though

He didn't take any information from ordinary people.
He did not sit on the information, he went straight to the french authorities (unless i read the OP wrong, I had just got up and was a little bleary eyed).

 

[East Preston Gull]

Private eye has been on about this for at least 5 years. Why panorama, guardian and BBC news choose to "reveal" this with an election coming up is a real surprise. It is convenient this all sits nicely with ed milliband and his tax evasion policy. The left wing darlings are all in it together. The right wing snides are all in it together. **** the lot of them

 

[beorhthelm]

But this person DID go to the authorities immediately

there is nothing in the story posted to suggest that. a little further reading reveals he was detained in Switzerland, then went on the run and only gave details to the French later. his motivation was apparently to sell on data for his financial gain.

He didn't take any information from ordinary people.

and you know this because...? i'd venture this chap working in the Geneva office didnt care for ordinary account information, but the risk is someone else in another office would be able to. lets get back to the HMRC having already recovered the funds its identified as tax evasion, as thats more important. probably HSBC should be fined for naughtiness involved, and Lord Green publically flogged for being in charge at the time (there's far more stories from that time i believe).

 

[Barham's tash]

Forgetting that the story comes from the BBC, not the newspapers, who are the 'left wing propaganda press' so in love with the Labour Party? Why if they love them so much has the national press given majority support to Labour's opposition at fifteen of the last eighteen elections? Tough love?

http://www.theguardian.com/news/datablog/2010/may/04/general-election-newspaper-support

Has it escaped your notice that for a supposedly non biased public service broadcaster the BBC has become somewhat more socialist in its outlook since upping sticks and moving to Manchester?

Also, the Grauniad is notoriously Socialist in outlook and who they backed at respective elections doesn't change my opinion that they might have a teensy bit of an agenda when it comes to this.

In summary yes tax evasion is wrong, yes money laundering is wrong, but they weren't the only bank recommending such solutions to wealthy clients (evasion within the confines of the current LAW) and they can't necessarily be held accountable for the actions of a distinct minority of their staff. (Money laundering)

If this inquiry brings to light evidence that senior management and board level executives were either complicit in their knowledge of such actions as money laundering then yes they deserve to get their comeuppance but it's highly unlikely that they were.

The naivety and gullibility of the public in believing that they're the only ones doing it remains to be seen but for as long as there have been money and taxes people will always try to pay as little as possible and an industry of lawyers or financiers assisting them to pay as little as possible has always existed alongside it.

 

[seagullsovergrimsby]

not sure i see where that follows on in relation to this story, other than two cases of tax authorities chasing money being in the public eye, what else to they have in common?

The footballers were advised to invest in what was considered legal tax avoidance schemes which HMRC now deem as tax evasion whereas clients of HSBC were advised just to hide their money from the taxman. I bet the footballers will cough up more when they come to settle their tax bills.

 

[glasfryn]

Why would anyone who feels strongly about this vote for the former stockbroker and the scorner of the working classes Nigel Farage? Him and his mates love a bit of the old tax evasion, I'm sure.

because they are fickle, and somewhat stupid, they will see Cameron protecting his banking friends and go an vote,as a protest, maybe just once ..........but that will be enough to get this lot out and keep the other lot(Labour) out as well and then we might just have a government who listen to the people of this country , rather that thinking all the time about lining their own pockets

 

[BadFish]

Has it escaped your notice that for a supposedly non biased public service broadcaster the BBC has become somewhat more socialist in its outlook since upping sticks and moving to Manchester?

Also, the Grauniad is notoriously Socialist in outlook and who they backed at respective elections doesn't change my opinion that they might have a teensy bit of an agenda when it comes to this.

In summary yes tax evasion is wrong, yes money laundering is wrong, but they weren't the only bank recommending such solutions to wealthy clients (evasion within the confines of the current LAW) and they can't necessarily be held accountable for the actions of a distinct minority of their staff. (Money laundering)

If this inquiry brings to light evidence that senior management and board level executives were either complicit in their knowledge of such actions as money laundering then yes they deserve to get their comeuppance but it's highly unlikely that they were.

The naivety and gullibility of the public in believing that they're the only ones doing it remains to be seen but for as long as there have been money and taxes people will always try to pay as little as possible and an industry of lawyers or financiers assisting them to pay as little as possible has always existed alongside it.

It may have escaped your notice but it has been a very long time since the labour party were 'left' let alone socialist.

http://www.politicalcompass.org/uk2015

http://www.politicalcompass.org/images/uk2015.png

 

[BadFish]

there is nothing in the story posted to suggest that. a little further reading reveals he was detained in Switzerland, then went on the run and only gave details to the French later. his motivation was apparently to sell on data for his financial gain.



and you know this because...? i'd venture this chap working in the Geneva office didnt care for ordinary account information, but the risk is someone else in another office would be able to. lets get back to the HMRC having already recovered the funds its identified as tax evasion, as thats more important. probably HSBC should be fined for naughtiness involved, and Lord Green publically flogged for being in charge at the time (there's far more stories from that time i believe).

I don't know this just like you don't know he has. You have just made a massive assumption in order to move the discussion away from your beloved establishment.

Sadly it has worked.

Anyway, if you wish to discuss a minor side issue and pretend it is as relevant then be my guest.

I had better do some work.
there seems little point in fining the HSBC as any fine imposed would be a drop in the ocean compared to the fees they have probably been charging for this service. Perhaps we should re regulate the banks and impose some kind of system that holds them properly accountable for their actions.......with our money/debts.

 

[beorhthelm]

I don't know this just like you don't know he has. You have just made a massive assumption in order to move the discussion away from your beloved establishment.

not sure what "massive assumption" you think ive made. the chap extracted data from the banks system is a fact. it demostrates flawed auditing and controls on the data, so its reasonable to suspect it may occur elsewhere. and everyone seems quite content to carry on with the original narrative, i dont see how im moving anything away, other than to highlight an substantial problem (presumably within the establishment, so i'll find it difficult to defned this when it makes the top news story)

 

[Dick Head]

I was very surprised to see Calde mixed up in it.

 

[Barham's tash]

It may have escaped your notice but it has been a very long time since the labour party were 'left' let alone socialist.

http://www.politicalcompass.org/uk2015

http://www.politicalcompass.org/images/uk2015.pngView attachment 62962

I've not once tried to be patronising here but well done for doing so in your reply.

 

[Stato]

Has it escaped your notice that for a supposedly non biased public service broadcaster the BBC has become somewhat more socialist in its outlook since upping sticks and moving to Manchester?

Also, the Grauniad is notoriously Socialist in outlook and who they backed at respective elections doesn't change my opinion that they might have a teensy bit of an agenda when it comes to this.

The BBC is always critical of whoever is in power and opposition. They are forever charged with bias from both sides. Their studied independence is taking so far that they also spend a lot of time self flagellating, as they are of the view that they are obliged even to hold themselves to public account. No other news agency in the world goes further in its attempts to try to avoid political bias.

I'm guessing you didn't click the link as it is not particular to The Guardian, but a simple statement of who newspapers advised their readership to vote for in each post war election. That's all newspapers from the Tory Telegraph, to the Tory Mail, to the Tory Times to the 'notoriously socialist' Guardian who told their readers to vote for (former advisor to Leon Brittan) Nick Clegg at the last election.

 

[crookie]

I'm certainly not Left-Wing, but clearly there is one rule for the wealthy elite and one for the rest of us. The demonising of Benefit Fraud, which I abhor incidentally, compared with the softly softly, cosy accommodation when it comes to the wealthy's tax evasion. Balls to that, prosecute them all, shame them and seize their assets. What a message that would send out. This country is in deep shite financially, why is it right that those with the most wealth are those most keen and able to avoid paying their share ?

As someone who is self-employed, once having received a huge tax bill that I couldn't pay all at once, ringing up HMRC and asking to pay half up front and the rest over a few months, being talked to like I was something smelly on the bottom of her shoe. How come I had not been putting adequate money aside each month to cover my tax liability ? Like it's that easy all the time. This story along with all the celebrities falling over themselves to sign up for dodgy tax avidance schemes makes me sick. Compounded when they still appear grinning on our TV channels, and the Great British Public still laps up every word

 

[Barham's tash]

The BBC is always critical of whoever is in power and opposition. They are forever charged with bias from both sides. Their studied independence is taking so far that they also spend a lot of time self flagellating, as they are of the view that they are obliged even to hold themselves to public account. No other news agency in the world goes further in its attempts to try to avoid political bias.

I'm guessing you didn't click the link as it is not particular to The Guardian, but a simple statement of who newspapers advised their readership to vote for in each post war election. That's all newspapers from the Tory Telegraph, to the Tory Mail, to the Tory Times to the 'notoriously socialist' Guardian who told their readers to vote for (former advisor to Leon Brittan) Nick Clegg at the last election.

Yes I did click the link but was basing my opinion on what I've read in various media over the last year or so.

 

[crookie]

Whether we are left-wing, or right-wing, it is clear that we are all getting an unfair deal, while the wealthy elites are getting away with economic murder.

Ideally we could ignore our political differences and unite in doing more to tackle the problem of this kind of corruption together.

Indeed, makes you wonder what the names are on this list, I'm sure it would make an interesting read. No doubt a few peers of the realm, MP's, Businessmen, "celebrities", sportsmen/women. A few squirming atm hopefully. I'm sure the establishment will protect it's own though, the good folk will obediently carry on paying their taxes and carry on as normal

 

[crookie]

HM Revenue and Customs (HMRC) was given the leaked data in 2010 and has identified 1,100 people from the list of 7,000 British clients who had not paid their taxes. But almost five years later, only one tax evader has been prosecuted.

Wow, at this rate they may have identified the other 5900 in another 31 years when most of them will probably be dead. Try being a few weeks late with your tax bill and they'll come down on you like a ton of bricks. Disgraceful.

 

[BadFish]

I've not once tried to be patronising here but well done for doing so in your reply.

I thought the opening of your post was fairly patronising so I responded in kind. My apologies for that, I stand by my point though the Labour party are not a 'left' part and are a long way from their socialist roots.

 

[cunning fergus]

Hmmm, that doesn't make any sense. Which one of the Romanian benefits fraudsters was really behind this?

This doesn't make any sense, in what way is the UK taxpayer benefitting from Romainian benefit fraudsters.........

http://www.telegraph.co.uk/news/ukn...00-in-benefits-ordered-to-pay-back-17.65.html

Seems to me that criminal tax evaders and Romanian benefit fraudster are both taking the piss out of the taxpayer, and both groups are getting away with it.

 

[yxee]

No, no it isn't. Why are you always so pathetic when there is story that smears the Tories?

I think labour are far more culpable here. They were in office when these crimes occurred, and it is a direct result of their deregulation.

 

[WATFORD zero]

I think labour are far more culpable here. They were in office when these crimes occurred, and it is a direct result of their deregulation.

You keep arguing whether it was labour or the tories who are to blame, because it's obvious to everyone that they have completely different approaches to the wealthy evading tax