Ansbacher Cayman Limited is believed to have offered to release information about their controversial accounts, according to a report in today's Irish Times. The Cayman Islands-based bank is said to have new information about 100 accounts. Some of these accounts were held by Irish people, or foreign nationals with an Irish connection. The records are at the centre of the information that the bank has suggested it should give to High Court inspectors, who are investigating the deposits used in serious tax evasion. The release of these records depends on a Cayman court ruling on the legality of such a move under local secrecy laws.
The bank's decision to go to the courts has annoyed clients or former clients, who could face a long and costly appeal against the Cayman legal decision. This change of policy towards Ansbacher deposits enquiries is believed to be because of pressure from its London headquarters and its South African parent company, Firstrand.
