Offshore accounts -Errant banks should be prosecuted

Once again we hear of another crackdown by the Revenue Commissioners on thousands of people who held money in offshore accounts.

Obviously, some of that money is, or was, held legitimately, but the latest investigation by the Revenue should flush out accounts which are not. Offshore accounts, by their nature, are not readily identifiable to the taxman, nor the extent to which they exist.

The holders have until March 29 to declare these accounts to avoid prosecution and having their names and details of their tax settlements published in the list of defaulters.