Should the government prosecute people who avoid paying taxes by hiding money in foreign bank accounts?

A former employee of HSBC recently leaked data that revealed 106,000 of the bank’s clients in Switzerland held secret accounts with the bank for the sole purpose of avoiding taxes. The leak revealed that the clients came from over 200 countries and were hiding over $118 billion dollars in the accounts. The data also revealed that HM Revenue and Customs failed to prosecute citizens who they knew were liable for unpaid taxes. Proponents of prosecution believe the government should take a more active role in monitoring people’s taxes and those caught evading taxes should be subject to stiff fines or jail time. Opponents believe that the people who evaded taxes were not breaking any laws since their funds were stored in Swiss bank accounts.