Friday, September 26, 2014

Global Impact: Former HSBC Staffer Drops Dimes on Argentine Citizens

According to The Latin American Tribune, French authorities handed over to Argentina on Thursday (September 25) a list of 3,900 Argentine citizens who hold accounts in Switzerland’s HSBC Bank.

The list was obtained from a former HSBC employee.

The head of Argentina’s AFIP tax agency, Ricardo Echegaray, was given a CD with the identities of HSBC account owners, but the names will not be made public except in cases that reach the judiciary.

Pending review of the information stored on the CD, Echegaray said 3,000 of the account holders have informed HSBC that they reside in Argentina, while the other 900 said they possess Argentine citizenship, but live abroad.

COMMENT: He said the data will be compared with the AFIP’s files, which list only 125 people owning accounts at HSBC.

Argentines who have not disclosed their Switzerland HSBC accounts will face financial penalties, Echegaray said.

Falciani obtained the information during his 2006-2008 time at HSBC.

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