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Q.

What is the Significance of Swiss banks to Indians when we have so many banks here ?

Tags: money, swiss, indians
Asked by commonsense, 01 Jan '10 11:26 pm
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Answers (5)

 
1.

Swiss banks emerged during second world war, when lots of illegal money launderes looked for safe haven due to political uncertainty in their respective countries. Swiss banks ensured privacy and safety for the money regardless of the legal, piltical, social of constitutional plight of the individual. He might be knocked out of the country, with all his money in national banks forfieted, but Swiss banks guaranteed the safety of his wealth in any condition whatsoever. The money in swiss banks may be used by international agencies, it used to fund the war torn nations after the second world war, and thus strengthening swiss economic prowess. So almost all major politicians in the world have their personal accounts in Swiss banks. Also the illegal money paid in the form of bribes for political or industrial favors to any group or company to help launch its products and services can be secretly and directly deposited in the Swiss account of the individual involved without any trace of it ...more
Answered by Nashaat Quadri, 01 Jan '10 11:57 pm

 
  
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2.

This is a best source to Big shots and politicians:The black money scam, sometimes also known as the 'wash wash scam', is a scam where con artists attempt to fraudulently obtain money from a victim by persuading him or her that piles of banknote-sized paper in a trunk or a safe is really money which has been dyed black (e.g. to avoid detection by customs). The victim is persuaded to pay for chemicals to wash the "money" with a promise that he will share in the proceeds.

The black money scam first appeared around the year 2000. It is yet another variation of what is known as advance fee fraud.
Answered by jameel ahmed, 01 Jan '10 11:33 pm

 
  
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3.

No one can get any information in Swiss Bank about account holders
Answered by Arshad Khan, 01 Jan '10 11:27 pm

 
  
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4.

I think as per their policy and regulations of land of law, customers are not asked about the source of funds. In India, even when you take loan from Bank, after few weeks same bank may ask you to calrify about this sum of money in your account !
Answered by Lucky, 01 Jan '10 11:35 pm

 
  
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5.

'Khatti aangoor'.
Answered by Prakash Chandra, 02 Jan '10 02:06 am

 
  
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