Swiss Bank

Amid mounting global pressure on Swiss banks to act against clients having illicit wealth, the country's financial market regulator has found loopholes in the banks'dealing with the foreign political figures. In one of the first-of-its-kind initiative against any hoarding of illicit wealth and money laundering through Swiss banks, the Swiss financial market supervisory authority FINMA has conducted an audit on dealings of all Switzerland-based banks with PEPs (Political.. Full Article

BJP MP Varun Gandhi on Friday sought names of Members of Parliament and others who have allegedly stashed black money in the accounts of HSBC, Geneva, the details of which have recently been shared with the Finance Ministry. The young MP from Pilibhit in Uttar Pradesh has shot off a six-point RTI application seeking names [...] Full Article

In comments that could fuel a fresh controversy over the black money issue, WikiLeaks founder Julian Assange on Tuesday said there are Indian names in the Swiss bank data list that are going to be made public. "Yes, there are Indian names in the data that we have already published or are going to publish. I can't remember specifically whether there are Indian names in the coming publication. But I have read Indian names," Assange said in an interview with a news channel... Full Article

India can get information on secret bank accounts from Swiss authorities for cases dating from January 2011, once the revised taxation treaty between the two countries is ratified by the Switzerland Parliament. "In this case, because you (India) wants to find all the tax evaders... I think we have conceded in the negotiation of DTAA, that India will get information effective from January 1, 2011," Swiss Ambassador to India Philippe Welti told PTI. Full Article

Swiss banks have asked their government to reject any "mass-requests" for account details, even as the European nation plans to relax its norms for sharing banking information with countries such as India. Known for providing utmost secrecy to their customers and their assets, Swiss banks have also warned the Switzerland government against signing any automatic information exchange agreement with any foreign country. Full Article

day we are witnessing such a national situation which none of us might have even thought of. A certain group of politicians, bureaucrats, industrialists and other unwanted social elements are working 24 X 7 to loot and divert our hard earned money to Full Article

The Left parties today asked the government to confiscate the black money allegedly stashed in Swiss Bank accounts and make the names of the account-holders public. "Government should not only obtain full details of these accounts, but also make the Full Article

Swiss banks have offered to tax the money deposited with them by Indians and other foreigners and "immediately deliver the cash" to governments of respective countries, rather than sharing the details of their clients. Switzerland has come under increasing global pressure to share information about black money stashed in its banks. Possibly as a response, Swiss banks have now offered to tax their foreign clients' assets but are still wary of sharing details of their cus.. Full Article