This Article is From Nov 03, 2015

Lot of Black Money Information Remains Unused: HSBC Whistleblower Herve Falciani

Herve Falciani is facing charges in Switzerland of leaking details of bank account holders in Geneva branch of HSBC.

New Delhi: Claiming that a lot of information on illicit funds is lying unused by the Indian authorities, HSBC whistleblower Herve Falciani today said he is still willing to cooperate with investigators in their black money probe.

"I have a lot of information regarding Indians stashing money abroad but for that I need the cooperation of the Indian government towards safety of whistleblower," Mr Falciani.

Holding a joint press conference with Swaraj Abhiyan leaders Yogendra Yadav and Prashant Bhushan via video conferencing, he also claimed that "millions of crores worth illicit funds" are still flowing out of India.

He, however, did not give a clear answer on whether he has any more information on Indians who have stashed illicit funds abroad.
He stressed governments across the globe should ensure that whistleblowers are protected. "We need just simple protection," he added.

"We are not protected... If I am coming to India, I will be arrested," he said, adding that people need to understand that there are not many new ways to probe and combat the menace of black money.

He has been refusing to attend proceedings against him in Switzerland as well.

Mr Falciani is facing charges in Switzerland of leaking details of bank account holders in Geneva branch of HSBC - a list which later reached French government and subsequently was shared with India as it had accounts of those Indians who had stashed funds abroad.

Earlier this year, he had hinted that he possessed additional information on the lines of the list of 628 Indian entities holding accounts with the bank in Geneva.

The Finance Ministry in February this year had said the IT department was already in touch with Mr Falciani, "who apparently brought out the names of persons holding undisclosed bank accounts in HSBC, Switzerland."
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