Compliance
India Had HSBC List Of Client Data Even Before Bilateral Pact Was Agreed - Report

A reports says the Indian government had details of the overseas bank accounts of 75 individuals and entities named in the so-called "HSBC Geneva list" even before Swiss authorities agreed this month to share data with the country.
The Indian government had the details of the overseas bank
accounts of 75 individuals and entities named in the so-called
"HSBC Geneva list" even before Swiss authorities agreed this
month to share data with the country, according to a report by
Indian Express.
The information had been given by HSBC itself following
negotiations between the bank and Indian income tax authorities
in January 2013. HSBC made the details available earlier this
year, before the NDA government came to power, the publication
said.
HSBC declined to comment to WealthBriefingAsia about the
matter.
On 15 October, following a Swiss-India meeting, the countries
issued a joint statement that said the “Swiss authorities would
assist in obtaining confirmation on the genuineness of bank
documents on request by the Indian side”.
The HSBC list reportedly contains details of accounts held by 628
Indian individuals and entities at the Geneva branch of HSBC’s
Swiss subsidiary, HSBC Private Bank, the report said. The data
was stolen from the bank by a former employee, Herve Falciani, in
2006, and was supplied to India by France in June 2011, the
report said, adding that Indian authorities are currently
checking that list.