RBS bankers arrested in tax fraud investigation

The arrests do not relate to RBS's activity, HMRC said. Photograph: Murdo Macleod

Bankers from the Royal Bank of Scotland have been arrested as part of an ongoing investigation into an alleged tax fraud.

Four current employees and one former employee of the Edinburgh-based bank were arrested at their homes across London and the home counties on Wednesday, HM Revenue & Customs (HMRC) said.

HMRC said the allegations related to the financial affairs of the individuals rather than the activity of the bank.

An spokeswoman added: "As a result of an ongoing HMRC investigation into tax-related criminal offences, HMRC has arrested a number of people, some of whom work for UK banks.

"This investigation relates to the actions of the people arrested in relation to their own financial affairs and is not connected to the business activities of the banks."