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.
Swiss banks, through their apex body Swiss Bankers Association (SBA), have told their government that any system of automatic information exchange and mass-requests for banking information must be resolutely rejected to safeguard the interests of Swiss financial centre in global banking system.
The views were expressed by the banks through an SBA statement to explain their position on the Swiss government’s proposed relaxations to its banking information sharing norms.
