Now, Switzerland to publish list of dormant bank accounts

Last Updated: Sunday, May 31, 2015, 15:53

The Ombudsman further said that a new banking law, which has come into force this year, has mandated that "assets over 500 Swiss franc that have been dormant for 50 years, that is 60 years after the last contact, have to be published. "If, following this publication, no justified claims are reported, the assets must be liquidated and their net proceeds will be transferred to the Swiss Confederation.

Illicit assets: Swiss govt tell banks to boost due diligence

Last Updated: Tuesday, December 3, 2013, 18:36

Switzerland has directed banks to strengthen due diligence on overseas clients to prevent illicit fund flows as well as comply with international tax regulations.

Automatic tax info exchange to hurt fund flows: Swiss banks

Last Updated: Sunday, November 24, 2013, 13:39

All Swiss banks put together managed assets totalling 5.57 trillion Swiss francs (over Rs 383 lakh crore) at the end of 2012, out of which 51 percent came from abroad, after an increase of over six percent during the year.

Swiss bankers oppose another US tax treaty

Last Updated: Monday, September 5, 2011, 20:19

The Swiss Bankers Association lashed out Monday at the possibility of another tax treaty with the United States aimed at handing over details of Americans suspected of using Swiss banks to cheat on their taxes.