Swiss refused request for help to pursue HSBC prosecutions

Revenue sought assistance to bring some of those named in leaked bank files before Irish courts

Commissioner Niall Cody.Photograph: Eric Luke / The Irish Times

Commissioner Niall Cody.Photograph: Eric Luke / The Irish Times

 

Switzerland refused a request for assistance to help bring prosecutions here on the basis of the leaked HSBC Geneva banking files, according to the Irish Revenue Commissioners.

Revenue chairman Niall Cody has also told the Dáil Committee of Public Accounts that 13 people are the subject of ongoing investigations arising from the Swiss data, with the amount in their accounts involving a maximum of $14.83 million.

Mr Cody, in a letter to the committee seen by The Irish Times, said the Revenue successfully sought the HSBC files from the French authorities in 2010, having read about their existence in the media. The total deposits associated with Ireland were greater than $6 billion, the files indicated.

The files were stolen from HSBC Geneva by a former employee, Hervé Falciani, and eventually came into the possession of Le Monde. More recently, reports based on the data have been published by The Irish Times and other media partners of the US-based International Consortium of Investigative Journalists.

The bulk of the deposits associated with an Irish address (98 per cent) were linked with the global funds industry, a sector in which Ireland plays a significant role.

Swiss Leaks link