New Delhi, Sep.09: India has started getting information related to the accounts of Indians holding money in Swiss banks. Switzerland has made some information available to India for the first time this month under an automated system.
Preparations are underway to analyze the first round of information received and it is estimated that sufficient material will be available to determine the identity of the account holders.
These information are
mainly related to the accounts which people have already closed for fear of
action.
Bank officials said that on the
instructions of the Swiss government, the banks collected and handed over the
data to India. There is a complete information of the transaction of every
account which was active in 2018. This data can prove to be very helpful in
preparing a solid case against those having undisclosed assets in these
accounts.
Bankers and regulatory officials have said that most of the list of account holders are Indians and businessmen living in South-East Asian countries, USA, UK, Africa and South American countries. The bankers admitted that a large amount of money was withdrawn from these accounts after a campaign started globally against the accounts of Swiss banks, which were once completely confidential. Many of these accounts were also closed. Information about accounts closed in 2018 has also been found.
