Illicit funds worth millions flowing out of India: HSBC whistleblower
Claiming that millions of crores worth illicit funds are flowing out of India, HSBC whistleblower Herve Falciani on Monday said he is willing to “cooperate” with the Indian investigative agencies in their black money probe but would need “protection”.
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 that shared with India the information relating to Indian clients of the bank.
Addressing mediapersons in India through Skype link, Falciani claimed that millions of crores worth illicit funds are flowing out of India.
“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.
“We are not here to talk about merely figures but about possible solutions,” Falciani said.
He stressed that governments 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 is no offer of new kind to fight black money.
Enter your email to get our daily newsletter in your inbox
- The police were investigating the case from all possible angles.
- In India, the cases reached 11.19 million and the death toll stands at 157,656. The country has inoculated more than 20 million in the ongoing vaccination drive.
- The finance department has written to the top brass of various departments, offices and administration to ensure strict compliance to the finance and treasury rules for maintaining fiscal discipline.
- In a letter to Puri king Gajapati Dibya Singha Deb, Union minister for petroleum and natural gas, Dharmendra Pradhan urged him to launch a mass fund collection drive to enable contribution by crores of devotees of Lord Jagannath for the development of the Jagannath Temple heritage corridor.
- Cryptocurrency is, however, not legally banned and the government is in the process of enacting a law on this matter.