HMRC has confirmed that it has trebled the number of criminal and civil investigations it is undertaking in relation to the so-called Panama Papers, the 11.5m files obtained from the computer systems of the law firm Mossack Fonseca.

HMRC set up a taskforce in November 2016 to consider the position and in September 2017, Mel Stride MP, the Financial Secretary to the Treasury, said, in a written answer to a question posed by Dame Margaret Hodge, that so far civil and criminal investigations are ongoing in respect of 66 individuals and “Taskforce partners have made three arrests in relation to an organised crime group suspected of a £125m conspiracy to defraud pension investors, tax evasion and associated money laundering. They have also identified leads relevant to a major insider trading operation, in relation to which a number of individuals have been arrested and are on bail pending further activity.”

The full written answer can be viewed here