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Categories:Regulation

RBS bankers arrested in HMRC tax probe

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Four bankers from Royal Bank of Scotland have been arrested in a tax fraud investigation, according to reports.

The BBC reports that in addition to the four current RBS employees, one former RBS employee and staff from two other banks have also been arrested.

The arrests were made on Wednesday as part of a three year investigation by HM Revenue & Customs into people suspected of evading tax by using a film finance loophole.

An HMRC spokeswoman told the BBC: “As a result of an ongoing HMRC investigation into tax-related criminal offences, HMRC has arrested a number of people, some of whom work for UK banks.”

She added that the arrests were related to the individuals’ financial affairs, and not related to their work for the bank.

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