Easier access to Swiss bank accounts

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[size=12pt]The Swiss government says it is willing to relax the rules for seeking information on bank accounts in Swiss banks. This will help countries like India to trace black money.

In the present system the country seeking information has to provide the name, address and name of the bank where he or she holds that account. In most cases all these details are hard to get.

But now the Swiss Federal Department of Finance says that in future it will be ready to accept only name and address of the account holder. The Swiss authorities will search through banks.

These new rules, of course, first require the approval of the Swiss parliament which has so far been strongly opposed to lifting banking secrecy.


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