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This is the third year that Swiss banks publish a list of dormant accounts without any trace of landlords and no claimant shows up for those who have ties to the Indians, even though a political slugfest persists in India
The list of all these accounts – Swiss citizens and foreigners, including India – was first published in December 2015 by the Swiss banking mediator and continues to be updated. day as the account is declared inactive. This allows true account owners or their legal heirs to file a claim with the necessary proof.
The details are removed from the list when a successful claim is made and this was the case for no less than 40 accounts and two According to the latest information shared by the Ombudsman, the safes of the 2017 year itself.
However, the list of more than 3,500 of these accounts continues to have at least six with links to India since December 2015. Switzerland was perceived as one of the The safest paradise in the world for financial badets for many years before a global crackdown on alleged tax evasion using widely used banking information protection practices in Swiss banks. Subsequently, Switzerland has drafted new laws to strengthen cooperation with several other countries in the exchange of information and stricter repression of illicit activities such as money laundering and fraud. tax.
India is one of the countries with which Switzerland has signed a pact for automatic exchange of information on financial issues, while the Alpine nation has already provided details on bank accounts in cases where the Indian authorities have been able to provide evidence of wrongdoing. by the Swiss National Bank (SNB), funds deposited by Indians with Swiss banks increased by 50 per cent to CHF 1.01 billion (The funds, described by the SNB as "debts" of Swiss banks or "amounts due to" their customers, are official figures disclosed by the Swiss authorities and do not exactly indicate the amount of the debt.The official figures, disclosed each year by the Swiss central bank, do not include nor the money that Indians, NRIs or others could have in Swiss banks in the name of Switzerland.
It has often been claimed that Indians and other nationals seeking to conceal illicit wealth Foreigners used multiple jurisdictions, including tax havens, to transfer money into Swiss banks.
Switzerland having established a framework for automatic exchange of information with l & # 39; India & various other countries, the famous secret walls of Swiss banks would have collapsed. India will start to get this automatic data from next year.
However, the increase in Indian money in Swiss banks has already triggered a strong attack of opposition against the government, which in turn has said that it would wrong to badume that the funds deposited in the Swiss banks were "black money" and energetic measures would be taken against the culprits.
Funds officially held by Indians with banks in Switzerland represent only 0.07% of total funds held by foreign customers banking system, according to SNB data
Regarding dormant accounts , at least three people from India and three others of Indian origin – but residing in other countries – continue to appear on the list of unclaimed bank accounts made public by Switzerland since December 2015.
While the specific figure for dormant accounts related to India is not known, the total holding in all these accounts is estimated at about 44 million Swiss francs (about 300 billion Rs).
Of the six Indian links, the place of residence of three was mentioned as India, while that is Paris (France) for one and London for another. The place of residence of the sixth person was not disclosed.
Pierre Vachek and Bernet Rosmarie of Bombay, Mumbai, Bahadur Chandra Singh of Dehradun, Dr. Mohan Lal of Paris, Suchah Yogesch Prabhudas of London. Kishore Lall is the person whose place of residence was not disclosed.
The date of birth was also disclosed in a case involving Vachek on January 1, 1908.
All these accounts were added to the public list December 1965 and would stay there until December 2020, unless that a successful claim be made for money.
There are also such accounts of Pakistan, including a Nawaz Haq of Wazirabad, which was added to the list last November
The list is intended to give their owners or their heirs legal a chance to claim the funds in these accounts. Only these accounts are on the list that have at least 500 Swiss francs and have remained unclaimed for at least 60 years.
The list contains a large number of people from Switzerland itself, as well as from Germany, France, the United Kingdom United States, Turkey, Austria and various other countries
If no legitimate party claims badets that have been published in the year following their publication, banks may transfer the badets in question to the government.
for potential legitimate claimants is five years if the badets in question have been dormant since at least 1954.
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