Government has offered a cash reward to a former HSBC bank employee turned whistleblower in exchange for any fresh information about its citizens holding illegal accounts in various tax haven countries, including in Swiss banks, as it looks to combat black money and unearth funds stashed away abroad.Sources said that the government is still awaiting a response to the offer it has made to the former HSBC employee after he hinted that he possessed additional information on the lines of the list of 628 Indian entities holding accounts with the bank in Switzerland's Geneva. They said that the money offered to him is as per government rules. However, they did not disclose the exact amount offered. They said that the I-T department has sought from the whistleblower, who has interacted with media in the past, anything and everything he could share vis-a-vis Indian account holders and their associates in the information that he claims to have kept with himself. As per rules, up to 30 per cent of the tax amount realised could be offered to whistleblowers who provide specific information on illegal funds.
News On AIR | March 24, 2015 12:43 PM
Govt. offers cash reward to a former HSBC Bank employee for providing information on black money stashed abroad by Indians