Swiss whistleblower equips himself with cryptocurrency to fight money laundering
One of the most wanted whistleblowers, French national Herve Falciani has adopted one of the most unlikely weapons, cryptocurrency to fight money-laundering and fraud–cryptocurrency and the blockchain technology behind it, according to a report by Reuters.
The former HSBC engineer who is currently living in Spain is best known for leaking important client data that led to several high-profile investigations. The information exposed a web of clients’ tax evasion, money laundering, and illicit schemes. Falciani is now busy working with Spanish authorities and academicians to develop a cryptocurrency that he thinks will be adopted by regulators and law makers.
Falciani is planning to launch an ethical cryptocurrency known as ‘Tabu’ making it traceable thanks to a certificate showing its clean record.
Speaking to Reuters in Spain where he is living in a self-imposed exile, Falciani said, ““What happens with any innovation or any technology is that it can be used in the bad way or maybe used in a friendly way with a social impact, positive social impact.”
Falciani further opines that blockchain, the underlying technology behind cryptocurrency can add transparency to any transaction and work as a deterrent against fraud.
The project is being developed by a non-profit organization called the ‘Tactical Whistleblowers’. Currently, Falciani owns nearly 5 million Tabu tokens, valued at $2.3 million.
Falciani is all set to launch a new blockchain-based initiative dubbed “Aletheia,” that will cross-check electronic procurement contracts for public administrations, which is grey area and an area of concern for fraudulent schemes in many countries.
Speaking about his past, Falciani said that he has no regrets spending time in prison awaiting his extradition and the experience opened a whole new vista of new perspectives for him.
Image via Shutterstock
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