Oireachtas Joint and Select Committees

Thursday, 12 March 2015

Public Accounts Committee

Revenue Commissioners Investigation of HSBC Offshore Accounts

10:00 am

Mr. Niall Cody:

I do not have the details with me, but yes, absolutely. In 2004 we offered a settlement opportunity for offshore accounts. People were given an opportunity to put their hands up and do a deal. Approximately half of the €1 billion that the offshore assets group secured came from that process. The High Court orders gave us targets we could follow up. Some of them were investigated with a view to prosecution, but I do not have figures on them.