Switzerland may tighten anti-money laundering rules

Last Updated: Friday, June 19, 2015, 19:13

Switzerland may tighten its anti-money laundering laws after a report by a government-appointed group found the country was still subject to financial crime.

Indian money in Swiss banks falls by over 10% to Rs 12,615 crore

Last Updated: Thursday, June 18, 2015, 16:48

This is the second lowest amount of funds held by Indians in the Swiss banks and follows an increase of over 40 percent in the previous year, 2013.

Money held by Indians in Swiss banks declines by 10.6% to Rs 12,615 crore

Last Updated: Thursday, June 18, 2015, 15:17

Money held by Indians in Swiss banks has declined by 10.6 percent to Rs 12,615 crore in 2014, as per the latest data released by the Swiss Central Bank.

Black money: Switzerland asks banks to check illegal asset flows

Last Updated: Friday, June 5, 2015, 22:22

Under pressure from India and other nations to act against black money menace, Switzerland will put in place stricter due diligence norms for banks to prevent inflow of illicit assets into the country.

Swiss prosecutors close HSBC case, bank to pay more than $40 mn

Last Updated: Thursday, June 4, 2015, 23:04

Swiss prosecutors Thursday closed an investigation into allegations British banking giant HSBC's Geneva branch helped clients evade millions of dollars in taxes, after the bank agreed to pay tens of millions in compensation.

Black money: Switzerland discloses more requests from India on Masoods

Last Updated: Tuesday, June 2, 2015, 22:45

Continuing to shed its famed banking secrecy veil, Switzerland Tuesday made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.

Swiss Re says no plans to enter direct insurance biz in India

Last Updated: Thursday, May 28, 2015, 19:00

World's second largest reinsurer Swiss Re Thursday said it has no plans to enter the direct insurance business in the country.

EU-Switzerland accord to end banking secrecy, curb tax evasion

Last Updated: Wednesday, May 27, 2015, 21:05

The European Union and Switzerland signed a major accord Wednesday to end banking secrecy for EU residents and prevent them from stashing undeclared income in Swiss banks.

Switzerland, EU sign automatic information exchange pact

Last Updated: Wednesday, May 27, 2015, 17:18

In a major step towards shedding its long-held banking secrecy tag, Switzerland Wednesday signed an agreement for Automatic Exchange of Information (AEOI) with European Union.

Swiss accounts: India seeking details on foreign entities too

Last Updated: Tuesday, May 26, 2015, 23:12

Indian nationals are not the only ones about whom India's tax authorities have sought details from Switzerland as they have also requested for information on some foreign entities, mostly based in tax havens.

Era of tax haven has come to an end: FM on latest Swiss move

Last Updated: Tuesday, May 26, 2015, 20:50

With Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitely on Tuesday said the era of tax haven has come to an end and it is no longer safe to keep assets abroad illegally.

Yash Birla has 'no individual account' in his name, says group

Last Updated: Tuesday, May 26, 2015, 20:38

With Yash Birla's name being made public by the Swiss government in relation to an information request from the Indian tax authorities, his business group Tuesday said he has "no individual bank account in his name or under his control".