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Lot of black money info remains unused: HSBC whistleblower

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Press Trust of India New Delhi
Last Updated : Nov 02 2015 | 8:13 PM IST
Claiming that "lot of information" on illicit funds is lying unused by the Indian authorities, HSBC whistleblower Herve Falciani today said he is willing to "cooperate" with the investigative agencies in their black money probe but would need "protection".
He also claimed that "millions of crores worth illicit funds" are flowing out of India.
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.
"We are not here to talk about merely figures but about possible solutions," Falciani said, adding that "lot of information that has not been used by the Indian authorities".
Addressing media persons here through Skype link, Falciani said money was not the driving force for sharing classified data on black money and other suspect accounts.
"It is not about money. I don't intend to become rich," Falciani said when asked whether he is looking for money to share information with India.

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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.
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 Falciani, "who apparently brought out the names of persons holding undisclosed bank accounts in HSBC, Switzerland."
"He has been requested to share information available with him in respect of undisclosed bank accounts of Indians in HSBC, Switzerland, and other destinations. His response is awaited," it had said.

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First Published: Nov 02 2015 | 8:13 PM IST

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