Bank sought offshore clients in midst of Revenue inquiry
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At
the height of a recent Revenue investigation into a string of offshore
accounts linked to Irish addresses, an advert appeared in The Irish
Times inviting individuals and companies to relocate their assets
offshore.
The
advert, placed by Swiss banking giant Credit Suisse, ran with the
catchline “Moving your account offshore? We can find you a home from
home.”
Revenue
chairman Niall Cody told the Public Accounts Committee (PAC) yesterday
he found it ironic to be seeking legal injunctions against certain
offshore accounts while banks were inviting people to open them. “While
we were in the midst of pursuing accounts in the Isle of Man and Jersey,
one of the Swiss banks, not HSBC, was advertising in one of our papers
the advantages of bank secrecy in Switzerland.”
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