Media leaks on HSBC accounts 'tip of iceberg': Whistleblower Falciani

Media leaks on HSBC accounts 'tip of iceberg': Whistleblower Falciani
A file picture taken on July 2, 2013 shows French former employee of HSBC Private Bank Herve Falciani looking on during his hearing at the National Assembly in Paris.

PARIS - Media leaks on HSBC accounts held in Switzerland "are only the tip of the iceberg, "Herve Falciani, the former HSBC employee who supplied information on the bank's clients and their tax situation, told French daily Le Parisien.

Falciani, who gave no details in the interview with Le Parisien, said tax authorities have had access to much more data than media including French daily Le Monde and International Consortium of Investigative Journalists did.

Asked if more clients were involved than the 106,000 identified by Le Monde, Falciani said: "Of course, there are much more than the journalists had. There were millions of transactions (between banks) in the documents I gave (to the government)."

HSBC on Sunday admitted failings in compliance and controls in its Swiss private bank and faces investigation by US authorities and an inquiry by British lawmakers after media reports said it helped wealthy customers conceal millions of dollars of assets in a period up to 2007.

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