India Has Insufficient Info On Black Money, Says Whistle Blower

BENGALURU:  India led by PM Narendra Modi, is pitching hard to get the details of Black Money stocked abroad, and he pitched for global cooperation. Recently with the G20 summit, Indian PM made clear that repatriation of unaccounted Indian black money abroad is his government's priority

and also sent a message that economic reforms should be insulated from politics.

Recently Herve Falciani, spoke exclusively to NDTV in his home country of France, refreshed us on India and its attempt to get back the Black Money. He told NDTV that there is "1000 times more information" available for investigators and there are a lot of business procedures to be unveiled to them. "That's why we need to collaborate to move on," he said.

Herve Falciani a former HSBC employee carried out one of the biggest security breaches in Swiss Banking history, and he obtained the inside details of some thousands of  HSBC private-banking clients. On that list were over 600 Indian names.

Unfortunately he lost his job in the bank and was imprisoned and was on the run as well; but with importance of information being leaked, he is now helping investigators of several various countries like U.S., France, Spain and Belgium to help fight large scale tax evasion, money laundering and corruption.

He added further that as Indian investigators struggle to know about private banking, he can in turn be of great help to the Indian investigators and would help fetch lot of inside information, if India is willing to take up the help; with less than 1 percent information India is banking on to get back the Black Money.

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