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Black money crackdown: Details of at least 50 Indian Swiss account holders to be shared with authorities

Updated : June 17, 2019 07:36 AM IST

Swiss authorities are in process of sharing details of at least 50 Indian nationals having accounts in Switzerland-based banks, with regulatory and enforcement agencies as the two countries tighten the noose on individuals suspected to have amassed illicit wealth.
Citing the federal gazette notifications issued by the Swiss government to the concerned individuals, officials said at least 50 Indian nationals have been issued notices in the past few weeks giving them one final opportunity to appeal against proposed sharing of their details with the Indian authorities.
While a large number of Indians have been issued notices in recent weeks with Switzerland stepping up its process to share details of such individuals, many more such notices are in the offing in coming weeks as India has sought details about a large number of Indian clients of Swiss banks
Black money crackdown: Details of at least 50 Indian Swiss account holders to be shared with authorities

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