CNBC Airs Series of Reports on Offshore Tax Evasion

Last Friday, CNBC aired a series of reports on the U.S. government's current crackdown on offshore tax evasion. This article, and the corresponding video reports (found here and here), highlight several high profile cases involving UBS and HSBC India account holders, the various methods being utilized by the DOJ to obtain information on offshore accounts at banks around the world, and the current amnesty program set to expire this August. Among the most interesting points of the report is that the government "makes money for every dime spent on [these] investigation[s]," which indicates the government is likely to broaden its investigation of other foreign banks and account holders before the amnesty period runs.