India not serious about unearthing black money in Swiss banks, says whistleblower-Sep 13, 2011

India not serious about unearthing black money in Swiss banks, says whistleblower

TNN | Sep 13, 2011, 12.21AM IST



Rudolf Elmer, a whistleblower who has brought out much information on secret Swiss banks accounts, has accused the Indian government of not being serious enough in getting details of black money stashed away in Swiss banks.
NEW DELHI: Rudolf Elmer, a rare whistleblower who has brought out much information on secret Swiss banks accounts, has accused the Indian government of not being serious enough in getting details of black money stashed away in Swiss banks.

In his first statement on Indian accounts in Swiss banks after being released from jail, Elmer said, "The Indian government doesn't do enough." He said society has to put pressure on the government to act. "India is a big country, which is getting stronger by the day. It has the negotiating power," he told an Indian news channel.

Elmer said many Indian companies and rich Indians, such as cricketers and filmstars, were using tax havens line Cayman Islands for banking. While pointing out that there were several Indian names in the list of those evading tax that he had brought out in 2008, Elmer refused to discuss any specifics regarding Indians. He is facing investigations in Switzerland for breaching secrecy laws of his country.

Elmer said the US was the only government which was serious about ending tax evasion and other illegal activities surrounding banking in tax havens. Recent reports pointed out that Swiss banks had started providing information to US authorities of American citizens who held accounts with them.

He called for global commitment to fight tax evaders, calling them criminals. "There is a need for global commitment and action," Elmer, who was a senior executive of Swiss bank Julius Bar, said.

Elmer has been waging a very public battle against tax evasion and banking secrecy of Switzerland. He was arrested, jailed and again arrested. In January 2011, he handed over a CD containing at least 2,000 names of tax evaders who used Switzerland to hide their assets to Wikileaks. The list is yet to be made public.