BBC Panorama exposé 'not regular practice' - Jersey

Panorama's 'Banks Behaving Badly' report showed an employee at a Jersey-based branch of Lloyds TSB Offshore giving advice to an undercover customer with £4m to invest. During the filming, the banker told the prospective ‘client' income earned on deposits held offshore are paid to clients via Hong Kong to "get round" the European Savings Tax Directive. A Jersey Finance spokesman says the report focused on one individual employee and "is in no way a reflection of regular practice and compliance standards within Lloyds Banking Group or Jersey's finance industry generally". Chief minis...