Frenchman Convicted Of The Largest Leak In Banking History To Launch An Ethical Cryptocurrency

Herve Falciani, the Frenchman who got jailed for the largest leak in the banking history is hoping to launch an ethical cryptocurrency soon that will help in the fight against money-laundering and fraud according to the reports coming to our blockchain news.

Falciani was convicted in absence by the courts in Switzerland for financial espionage after he leaked the details of more than 30,000 accounts and obtained more than $120 billion in assets at the Swiss Private Bank.

However, he remains in exile in Spain after the country denied the extradition requests made by Switzerland. The evidence contains web clients’ tax evasion documents, money laundering and much more that lead for an international investigation in several countries.

Falciani is now working on launching an ethical crypto token that will be named ‘’Tabu’’ that will be fully traceable and will help discover tax evasion. The project is developed with the help of his non-profit Tactical Whistleblowers Spanish academics and fintech experts. He told Reuters:

 “What happens with any innovation is that it can be used in a bad way or maybe used in a friendly way with a […] Fake information is the basis of any kind of fraud … The same way that we have to deal with fake news, the same technology can applied to fake invoices.”

He managed to raise about $1.5 million and aims to raise another $2.3 million after the approval from the Spanish regulators. He is also preparing a blockchain system that will enable cross-check electronic contracts for public administrations.