The first batch of information provided by Swiss banks under the automated system provides information about most closed accounts. For the first time this month, information was received by India, mainly about accounts that people had already closed for fear of action, although an in-depth analysis of these information is underway. It is believed that the identity of the account holders can be determined from these information. Special attention is being paid to the information related to people having political contacts in the analysis. Bank officials said that on the instructions of the Swiss government, the banks there collected the data and handed it over to India. In it, full details of the transactions have been given in every account which has been active on a single day in 2018.
Bank officials said that on the instructions of the Swiss government, the banks there collected the data and handed it over to India.
This data can prove to be very helpful in prosecuting those holding undisclosed assets in these accounts. It provides complete information about deposits, transfers and income from investments in securities and other asset categories. Bank officials admitted that huge sums of money were withdrawn from these accounts in the last few years following a globally launched campaign against Swiss bank accounts that were once completely confidential. 100 accounts have already been closed before 2018. There are also at least 100 such old accounts of Indian people which were closed before 2018. Switzerland is in the process of sharing the information on these accounts as quickly as possible. These accounts relate to people involved in vehicles, components, chemicals, textiles, real estate, business. Information about NRIs will also be available. Many bank officials and regulatory authorities, on the condition of anonymity, said that NRIs living in South-East Asian countries, America, UK and African and South American countries will also get information.