Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Media accused of pro-protester bias in Ferguson

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment (part 2)

Read more

DEBATE

The Murderous Lure of Jihad: Tackiling ISIS and its Worldwide Recruitment

Read more

FOCUS

Republicans block Obama's bid to hike minimum wage

Read more

WEB NEWS

Calls for ISIS media blackout after execution of James Foley

Read more

WEB NEWS

Web users divided over Darren Wilson

Read more

WEB NEWS

Web users take on 'Ice Bucket Challenge' to fight ALS

Read more

ENCORE!

From Paris's Liberation to 'arresting' art in Avignon

Read more

INSIDE THE AMERICAS

Ferguson riots: Pressure mounts on Obama

Read more

  • Two US Ebola patients leave hospital ‘virus-free’

    Read more

  • Hollande is ‘nobody’s president’ says former French minister

    Read more

  • Turkey’s Erdogan names foreign minister Davutoglu as next PM

    Read more

  • US reaches historic $16.7bn settlement with Bank of America

    Read more

  • Special report: Supplying Ukraine’s soldiers on the front line

    Read more

  • US forces tried to rescue slain reporter from IS captors

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • France delivered arms to Syrian rebels, Hollande confirms

    Read more

  • Tensions high in Yemen as Shiite rebel deadline looms

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Former Irish PM Albert Reynolds dies at 81

    Read more

  • Former Femen activist detained after fighting veiled woman

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

  • Brazil’s Silva launches bid after Campos plane crash death

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • US attorney general visits Missouri town after fatal shooting

    Read more

Business

France to continue using stolen Swiss bank data

Text by News Wires

Latest update : 2009-12-22

France has said that it will still use client data information stolen by a former employee of HSBC in Geneva to pursue cases of tax evasion, despite French authorities agreeing on Monday to return the data to Switzerland.

REUTERS - France will continue to use data stolen from a Geneva private bank in its drive against tax evasion, its budget minister said on Tuesday, a day after French officials agreed to return the client lists to Switzerland.
 
“Of course they can be used. The French judicial procedure will continue,” Eric Woerth told reporters on the sidelines of a visit to China with Prime Minister Francois Fillon.
 
Despite Swiss protests, French tax authorities have been using information secured from Herve Falciani, a former HSBC computer specialist, who has admitted stealing client data from HSBC’s private banking arm in Geneva.
 
On Monday, Paris agreed to return the data after Switzerland threatened not to ratify a tax treaty that would make it easier for French authorities to go after taxpayers who had salted away funds in Swiss bank accounts.
 
A Swiss finance ministry spokeswoman said on Monday the French move left a number of questions open and said these would have to be resolved between the two governments.
 
“The essential question is what France is prepared to do with the data,” she said.
 
A global crackdown on tax havens has forced Switzerland to relax its treasured bank secrecy regime and it promised in March it would enter new treaties that would allow it to share bank client information in some cases of tax evasion.
 
France and Switzerland signed one such treaty in August, which was meant to be ratified by the Swiss parliament in 2010 and Woerth said he assumed it would still be approved.
 
“It has to be ratified. I imagine it will be. I can’t imagine that the Swiss authorities will block the agreement, it’s a matter of time and remaining calm,” he said.
 
By the start of December, 1,400 of the 3,000 French taxpayers whose names appear on the list obtained from Falciani had settled their affairs with French authorities, according to a finance ministry unit that has been handling the affair.

 

Date created : 2009-12-22

  • BANKING

    France to return 'stolen' HSBC data to Switzerland

    Read more

COMMENT(S)