Obviously you've never had to work in, for instance, the financial industry, or any other industry that requires disclosures like this. If you had, you would be familiar with the requirement to fill out forms like this, and if you leave out a $3 million account in a foreign country, they usually fire you for that. And sometimes, the SEC brings charges.
Just sayin', it's kind of a big deal.
Did he not pay taxes on the interest? I can understand that not disclosing it might be illegal, but if he paid interest on the income, I don't understand why it would be a big deal. Tell me more.