The #SwissLeaks project is based on a trove of almost 60,000 leaked files that provide details on over 100,000 HSBC clients and their bank accounts.
As a collaborative investigation with the International Consortium of Investigative Journalists (ICIJ), the project exposed how the Swiss branch of one of the world’s biggest banks, HSBC, profited from doing business with tax dodgers around the world.
According to country classifications, #SwissLeaks ranked Eritrea 53rd out of 200 countries with assets of $695.2 million stashed in offshore Swiss accounts.
The maximum amount of money associated with a client connected to Eritrea was, therefore, $695.2 million. This was from a total of 24 client accounts that were opened between 1981 and 2006 and linked to 39 bank accounts.
International Consortium of Investigative Journalists (ICIJ)’s Website also reveals that around 32 clients are associated with Eritrea and 28% have Eritrean passport or nationality.
#Swissleaks also ranked another African country Ethiopia #153 out of 200 countries with assets of $10 million stashed in the offshore accounts.
The maximum amount of money associated with a client connected to Ethiopia was $2 million. A total of 31 client accounts have been opened between 1986 and 2004 and linked to 55 bank accounts from Ethiopia.
It was revealed that 29 clients are associated with Ethiopia and 24% have Ethiopian passport or nationality.
The list was led by Switzerland with $31.2 billion followed by United Kingdom, Venezuela, U.S., and France.
The files at the foundation of the Swiss Leaks articles and the interactive application are based on data secreted away by Hervé Falciani, a former HSBC employee-turned-whistleblower. He turned the data over to the French government in 2008 and its tax authority launched an investigation, ICIJ said in a note on its website.
The names of Eritrean and Ethiopian politicians and businesses have not yet been revealed.
— AFP news agency (@AFP) February 9, 2015