Tuesday 18 January 2011

Wikileaks handed two discs of secret Swiss banking data

Many are awaiting a Wikileaks release regarding a major U.S. bank, widely believed to be Bank of America. In the meantime, however, former Swiss banking employee Rudolf Elmer has handed over two discs worth of data to Wikileaks, containing information about bank accounts of more than 2,000 "prominent individuals."

Elmer has his own whistleblower website, which is where the information came from, and he handed the discs over to Wikileaks chief Julian Assange, publicly, at a press conference on Monday morning. It is up to Wikileaks to vet, and if they deem the information reliable, release it.  Assange said,
"Once we have looked at the data ... there will be full revelation."
The discs could potentially hold information related to possible tax evasion. The people involved could be using the Swiss banking system’s offshore Cayman Islands accounts to avoid paying taxes in their native countries. Yesterday, Elmer told The Observer:
"Once you become part of senior management and gain international experience, as I did, then you are part of the inner circle, and things become much clearer. You are part of the plot. You know what the real products and service are, and why they are so expensive. It should be no surprise that the main product is secrecy ... Crimes are committed and lies spread in order to protect this secrecy."
However, both Wikileaks and Elmer are interested in the flaws in the system, not the individuals involved. Thus, we probably won't be seeing actual names exposed.

While Assange is fighting extradition to Sweden over sexual misconduct chargers, Elmer is facing trial in Switzerland for an earlier data leak. In this case, however, Elmer claimed he did not break any Swiss banking secrecy rules. He indicated that all of the banking information was related to the Cayman Islands, and lay outside Swiss jurisdiction.

You can watch the actual handover below.