Brazil negotiates with French authorities for cooperation on Swiss Leaks

The Prosecutor-General of Brazil, Rodrigo Janot, is in Paris to attend meetings at the French Public Prosecutor's Office this week. The aim is to negotiate a cooperation agreement with French authorities to obtain information on Brazilian nationals identified as having financial transactions with HSBC bank in Switzerland. Janot wants to gain access to sensitive information on 8,700 Brazilians identified in the Swiss Leaks scandal.

If signed, the agreement will enable the Prosecutor-General's Office (PGR) to investigate the source of the funds held by Brazilians in HSBC Switzerland accounts. Under Brazilian law, having offshore accounts is not illegal, but any funds transferred to these accounts must be declared to the Central Bank and the Federal Revenue Service.

In February, the International Consortium of Investigative Journalists (ICIJ) leaked confidential documents about an alleged tax evasion scheme involving holders from around the world with accounts in HSBC Switzerland. After the leak, the Revenue Service obtained limited access to information on Brazilians listed in the documents. However, the information provided by the government of France can not be shared with criminal investigations in Brazil.

The Federal Police and a Congressional Committee of Investigation (CPI) at the Senate are also investigating the case.

Translated by Mayra Borges

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