More € 180 billion of tax fraud. “ The World” and several international media exposes and reveals the hidden face of banking secrecy in Switzerland, in a long survey published Sunday, February 8th.
Dubbed “ SwissLeaks “, the operation is a journey of tax evasion and highlights the tricks used to conceal the undeclared money. Practices that have been encouraged by the British bank HSBC , the second largest banking group, and through its subsidiary Swiss HSBC Private Bank.
It is through the old computer expert and Former bank employee HSBC in Geneva , Hervé Falciani, the operation could be carried out.
The European newspapers that participated in the survey have created a site Web dedicated to the case, swissleaks.net, which includes all of the items.
“L’Observateur” helps you to understand and take stock the scandal “Swissleaks.”
# What do these data?
Billions have passed through accounts in Geneva, including hidden behind offshore structures in Panama and the British Virgin Islands.
According to investigators, explains “The World”, about 180.6 billion euros would have passed in Geneva by HSBC accounts more than 100,000 customers and 20,000 Company s offshore, “precisely between 9 November 2006 and 31 March 2007.”
According to data collected by Hervé Falciani, p read of 5.7 billion euros were hidden by HSBC Private Bank in tax havens “to on behalf of French customers. “
Who can be finding on data collected by Hervé Falciani? “Traffickers of weapons or drugs, financial terrorist organizations, politicians, stars of showbiz icons sports or captains industry,” wrote ” The World “. But also “ Belgian diamond”, “the protagonists of the Elf affair” or “many Jewish families whose assets had been put in a safe place in Switzerland at the time of the rise of Nazism in Europe “
# How was organized tax fraud?
According to “The World”, a large part of the customers involved were unlawfully “canvassed in France with the managers of the bank accounts.”
The Executive Committee of HSBC PB them all encouraged to better “ hide their money behind the screen of offshore structures.” These structures are usually based in Panama and the British Virgin Islands.
The aim of the operation is to avoid some European taxes such as ESD charge introduced in 2005, under a European Directive on the taxation of savings .
# In France, which benefited from the system?
“The World” quotes the comedian Gad Elmaleh , which had, according to the newspaper account of a poorly stocked in Geneva, with a little over 80,000 euros between 2006 and 2007. According to newspaper reports, he rectified the situation with the French tax authorities.
The evening daily mentions Jacques Dessange , founder of the empire hairstyle, which had an account in the Swiss subsidiary of HSBC where he would have been up to 1.6 million between 2006 and 2007. He also served clients who have been regularized their situation and was acquitted a fine, says “The World”.
The data analyzed show very disparate profiles came from the French surgeon post undisclosed fee in Switzerland to royalty.
# How “Swissleaks” could be revealed?
This is after having access to data subtracted by the computer scientist, Hervé Falciani, a former employee of HSBC bank in Geneva that “The World” and other foreign media were able to investigate and reveal the significant tax fraud system.
For many years, the information copied by Hervé Falciani were known only of justice and some tax administrations. Some items, however, had leaked to the press.
In an interview with “L’Observateur”, the former bank computer specialist, became whistleblower explained the progress of the international investigation into a highly organized system of escape.
Justice French survey since 2009 on a part of the “Falciani listings.” Approximately 3,000 French nationals suspected of having concealed their money at HSBC PB with the bank’s complicity. She was indicted as a corporation, for “d illegal banking and financial émarchage” and “tax evasion laundering”.
“Tax evasion is an industry”
# How were the data analyzed
” The World “may have access to bank data more than 100,000 customers. The evening of the day could make information available to the Consortium of Investigative Journalists (ICIJ), based in Washington, who shared them with more than 50 other international media, including the “Guardian” in the United Kingdom or ” Süddeutsche Zeitung “in Germany.
The data, analyzed by some 154 journalists covering the period from 2005 to 2007.
# And elsewhere in the world?
Among the names mentioned in the various foreign media include in particular King of Morocco Mohammed VI or Jordanian King Abdullah II . There are also many personalities such as fashion model Elle McPherson or creative Diane von Fürstenberg , the show like the actress Joan Collins and actor John Malkovich or sports like racing driver Valentino Rossi .
The Swiss newspaper “Le Temps” one partner newspapers to these revelations, focused on politically exposed persons, citing among other Rami Makhlouf , a cousin of Syrian President Bashar al-Assad.
He quotes also the former minister of Haiti Frantz Merceron or former Egyptian Minister of Trade and Industry Rachid Mohamed Rachid , who had been sentenced to five years in prison June 2011 for misuse of corporate assets from the fund for the development of the country.
# What answers HSBC questioned?
On its website, “The World” HSBC publishes a response that says recognize the “past failures.” The Swiss bank claims to have taken several years many initiatives to prevent the use of its services for the purpose of tax evasion or money laundering.
“HSBC Private Bank continued to provide services to customers who were adversely cited by the United Nations in legal documents and in the media for their connection with arms trafficking, conflict diamonds, or corruption, “criticizes his side Consortium of Investigative Journalists.
Banking secrecy in Switzerland was reduced as a trickle, the pressure on the banks is greatly increased while many governments have intensified the hunt tax evasion.
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