Switzerland will prosper if the number of frauds and corrupt people in the world increase. You may wonder why? All the corrupt politicians and economic fraudulent people will find their safe place of investments as Swiss banks. Why Swiss banks?There is protection of information about the clients and their assets in Swiss banks.The Swiss Parliament has passed this as a law and any violation of this law comes under criminal procedure. The assets and account details are not always blocked. A judge can issue order for getting the details of clients. The number of authorized banks in Switzerland is nearly 500. During the Second World War the Nazi Germany tried to access the details of accounts from Swiss banks especially that of Jews. Some Swiss banks were under the scanner for not providing access to their account for Nazi Holocaust victims.
The thought process of Swiss Bank accounts came when it recently made entries in news papers where various political parties demanding the government to take action against those keeping their black money in the banks. The amount held by Indians in Swiss banks has doubled since 2001 from $2.6 billion to at $5.7 billion in 2007.The waggish thing is that Indians top the list of investors in Swiss banks. The Swiss banks were often referred in scandals like Bofors which was worth 640 million.
Recession in India can be solved once we bring back the black money here. The amount may be enough for providing the basic infrastructure and solving poverty.
image courtesy :-http://swiss-bank-accounts.com
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