(Herve Falciani is responsible for the world's largest-ever breach of banking secrecy. In 2008, he leaked data from HSBC Private Bank in Geneva, where he was a systems engineer. He says he is committed to campaigning against offshore banks who help the rich, corrupt and criminal hide their money.)
It is really important for everyone to know exactly where the real problem lies. And it is thanks to revelations such as the one made by the media this week that we have the great opportunity to see it happen. Banking giant HSBC has been exposed by the international media for helping rich clients buck taxes that run into hundreds of billions of euros.
Such announcements have the power to question politicians and make them act, and act not just alone, but in collaboration with citizens for public interest, rather than for the vested interest of a small group.
I am pleased that it was done in an ethical rather than indiscriminate way. This is what makes it effective towards making things change. Public awareness is the main goal and of the utmost importance.
More than focusing just on the names of those who held illicit accounts, we must focus on the mechanisms in order to understand that this is a business that is hitting regular citizens hard. It should be less about discussing individuals and more about uncovering and dismantling the expertise that is there to help them avoid taxes.
I have always said names should not be revealed, but I have also insisted at the same time that exceptions can be made if it concerns politicians or public figures. But revealing names is not a choice that I can or should have to make.
Fortunately, those who released the names did it in such a way that it goes on to prove something. Everyone now knows the profiles and names of the people, so you can see who they are.
Many will of course still plead innocence. The huge problem for everyone across the board, whether it's in France or in India, is that marketplaces are correlated. So if we do not maintain civilian surveillance over finance, then we will be faced with grave problems.
It is a well-known fact that clients usually put one-third of their assets in one bank, so we can assume that more than three times of the amounts revealed are spread over many banks. Fortunately, data on transactions help track down other banks that the same people are dealing with.
Regarding empty accounts and denials - this information has been globally proved as authentic and accurate. Many clients themselves have admitted that the information is accurate and they have even brought complementary proof by collaborating with the judiciary. You will still have people who deny it - lying is not new but it will be harder and harder for them if citizens are more and more aware of their tricks.
When we first encountered the information, we were amazed by the vastness of it and again, it's not just by chance that some are avoiding taxes. They are doing so because there are facilitating services that are being offered on an industrial scale and that is what we have to reveal. So both the quality and the quantity of the information is significant.
As for India - I am currently trying to decide on the best way to proceed with the exchange of information with India. It's a matter of just weeks to get the organization in place. I'm not sure yet if I should do it directly with normal citizens, as we have done in the case of Argentina, or should we do it with the support of the French government? That is the part of the discussion which is ongoing as to whether this can be something that's government-to-government, or whether I should do it in my individual capacity.
I have already told India that I am willing to move on in whatever way it is they want to proceed but I will have to organize all this on my own, unbelievable as it may sound. So I have to see how I can do that in the best possible way with civilians and officials.
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