After NDTV's exclusive interview on November 20 with whistle-blower behind the biggest data heist in the history of banking secrecy, the government established contact with Herve Falciani via NDTV in Paris. NDTV's Resident Editor in Europe, Noopur Tiwari spoke to Mr Falciani immediately after his first conversation with Indian investigators over the phone.
Here's the full transcript:
NDTV: What did the investigators say to you and what did you tell them?
Herve Falciani: That I am very pleased that we have started the exchange, the next step will be to organise the fight against not only clients, but shadow banking
NDTV: How is the investigation going to change after this?
Herve Falciani: New investigation methods and appropriate tools had to be developed in Europe and other countries, and we will do the best for India to have them too.
NDTV: What kind of support do you need from here on?
Herve Falciani: Citizens and government. Today we have a chance to enhance the investigation because of the two coming together to prevent tax evasion and corruption
NDTV: How much time will it take before something concrete starts to show?
Herve Falciani: To grasp mechanisms, to build a team and to share knowledge will take a few months.
NDTV: Would you say six months?
Herve Falciani: In six months we can expect the first good results and I insist I am not talking only about HSBC clients but investigation technologies, which will be useful for all the banks that are participating in shadow banking.
NDTV: So in a sense this would be capacity building for investigators to move forward?
Herve Falciani: The objective is to dissuade. And to acquire tools to prevent tax evasion. My experience comes from the fact that I am an insider and I grew up in a private banking ambience. In addition I have worked for 6 years with investigators. I have improved the way we can help investigations.
NDTV: Shift to going after banks rather than clients?
Herve Falciani: The companies are the bigger problem. And we have to focus on the banking system. It doesn't mean that all the banks are bad but we need better tools
NDTV: What about bringing out names in public of people who are guilty?
Herve Falciani: Am not in favour of exposing all the people, as it's usually better for the investigation to protect them. If your investigation is weak and there's no choice then maybe you need to expose them but it's better instead to use clients as witnesses. This was done in Europe, in France particularly. Because clients can become witnesses to reveal how the industry is working.