"The first phase of the investigation, which will see further, targeted, activity over the coming weeks, is focused on senior employees from within the institution, along with a number of its customers."
HMRC said that as the investigation is ongoing, it is unable to provide any further detail at this time.
The government has recently introduced tougher powers and increased penalties in a bid to tackle offshore tax evasion. The UK is also introducing a new corporate criminal offence for corporations that fail to prevent the facilitation of tax evasion.
The offshore specialists in HMRC’s Customer Compliance Fraud Investigation Service are currently investigating more than 1,100 cases of offshore evasion around the world, with more than 100 individuals subject to current criminal investigation.
In a statement, HMRC said: "Yesterday HMRC, working with our international partners, launched a criminal investigation into suspected tax evasion and money laundering by a global financial institution and certain of its employees. The first phase of the investigation, which will see further, targeted, activity over the coming weeks, is focused on senior employees from within the institution, along with a number of its customers.
"The international reach of this investigation sends a clear message that there is no hiding place for those seeking to evade tax. Promoters and facilitators of tax evasion schemes, and their customers, need to wake up to reality and accept that attempting to hide wealth overseas, or within institutions, doesn’t work and doesn’t place them out of our reach. Alongside this new investigation we are currently investigating more than 1,100 cases of offshore evasion around the world, and have brought in more than £2.7 billion from offshore tax evaders since 2010."