HSBC whistleblower claims he has proof senior managers knew about practices

HSBC Canary Wharf

Herve Falciani, who took a trove of data from HSBC that spawned investigations of extensive tax evasion by the bank’s clients, said he also has proof senior managers knew about the practices.

'I can prove, and it has to be explained, that the top management is aware and was aware of the problem', Falciani, a software technician, said in a February 27 interview with Bloomberg Television’s Francine Lacqua. He declined to identify any bank executives and he declined to describe his evidence, saying only that his files provide 'logical proof'.

'I don’t have documents signed by top management', he said.

Bloomberg News reports that HSBC, Europe’s biggest bank by market value, is under scrutiny after the International Consortium of Investigative Journalists published a report last month, based on Falciani’s data, that shows how HSBC allegedly advised customers including convicted drug dealers, arms sellers and other criminals on evading taxes and laundering money. 

To access the complete Bloomberg News article hit the link below:

Falciani Says He Can Prove HSBC Management Knew of Tax Abuses

Blackstone Seeks Up to $15 Billion for Real Estate Fund

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts