Patrick Radden Keefe, The Bank Robber: The computer technician who exposed a Swiss bank’s darkest secrets. The New Yorker, 30 May 2016. “A few days before Christmas in 2008, Hervé Falciani was in a meeting at his office, in Geneva, when a team of police officers arrived to arrest him. Falciani, who was thirty-six, worked for H.S.B.C., then the largest bank in the world. He was on the staff of the company’s private Swiss bank, which serves clients who are wealthy enough to afford the minimum deposit—half a million dollars—required to open an account…. As the Swiss police escorted him from the building, he insisted that he had done nothing wrong.”
February 8, 2015
Swiss Leaks: Banking Giant HSBC Sheltered Murky Cash Linked to Dictators and Arms Dealers
Gerard Ryle, Will Fitzgibbon, Mar Cabra, Rigoberto Carvajal, Marina Walker Guevara, Martha M. Hamilton and Tom Stites, Swiss Leaks: Banking Giant HSBC Sheltered Murky Cash Linked to Dictators and Arms Dealers. International Consortium of Investigative Journalists. 8 February 2015. “HSBC Private Bank (Suisse) continued to offer services to clients who had been unfavorably named by the United Nations, in court documents and in media as connected to arms trafficking, blood diamonds and bribery. HSBC served those close to discredited regimes such as that of former Egyptian president Hosni Mubarak, former Tunisian president Ben Ali and current [2015] Syrian ruler Bashar al-Assad…. The bank repeatedly reassured clients that it would not disclose details of accounts to national authorities, even if evidence suggested that the accounts were undeclared to tax authorities in the client’s home country. Bank employees also discussed with clients a range of measures that would ultimately allow clients to avoid paying taxes in their home countries. This included holding accounts in the name of offshore companies to avoid the European Savings Directive, a 2005 Europe-wide rule aimed at tackling tax evasion through the exchange of bank information.”