According to a report on Reuters, UK, Manhattan District Attorney Robert Morgenthau said New York State investigators are looking for more cases like the one in which London-headquartered Llyods agreed in January to forfeit $350 million to the United States and New York in connection with faking records related to clients from Iran.
Morgenthau said he was going to Washington to work on expediting the investigations. Although it appears that the New York investigations are centered on money laundering violations by banks and financial institutions, it is probable that evidence will be uncovered relating to individuals with offshore accounts; and such information will be turned over to the IRS, triggering tax fraud and FBAR violation investigations.
Morgenthau’s biography highlights that as a U.S. Attorney, he prosecuted tax fraud cases.
If you have an offshore bank account, you should contact a tax litigation attorney to discuss the current IRS “tax amnesty” before the deadline in September passes.