Facts and figures of "Lagarde List" in a nutshell

The text below is an extract from this week’s issue of HOT DOC magazine featuring extensive report and commentary by editor Kostas Vaxevanis and his team, over the leaked “Lagarde List” published on Saturday in an extra edition.

In a nutshell

• ·        The 2,059 HSBC clients listed hold 2,846 accounts in total
• ·        Accounts make a total of €4,5 billion in deposits
• ·        55% of the accounts showed no transactions during 2005, 2006 and the first 2 months of 2007, apparently when Herve Falciani stole HSBC data. In February 2007, 26% of the accounts were active whilst the rest remained inactive, closed, abandoned, blocked or without sufficient data.
• ·        Swiss banks allow their customers to open an account in their name or alternatively in a code number. This is convenient for those seeking funds from controversial sources – as evidence shows from Tsochatzopoulos scandal too. For example a probe can be funded from a well known source to a numbered bank account whose holder cannot be identified. Later on in case a minister is inquired amid investigation, he may claim that this does not refer to a bank account but…a telephone number.