HMRC has helped spearhead a global day of action against the suspected tax evasion and money laundering of more than £200 million in the UK alone.

The action occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and UK into a Central American financial institution, whose products and services are believed to be facilitating tax evasion and money laundering for customers across the globe.

It is believed that through this institution, a number of clients are using a sophisticated system to conceal and transfer wealth anonymously, to evade their tax obligations and launder the procee...