Finance, Forex and Investments

Shocking revelation about Swiss Bank Accounts?

I received the following e-mail from a friend. Read and answer the following question. 1) Can this be true ? 2) If yes, what we as ordinary citizens can do to book the culprits. Revelation of Swiss bank accounts This is so shocking.......If black money deposits was an Olympics event.... India would have won a gold medal hands down. The second best Russia has 4 times lesser deposit. U.S. Is not even there in the counting in top five! India has more money in Swiss banks than all the other countries combined! Recently, due to international pressure, the Swiss government agreed to disclose the names of the account holders only if the respective governments formally asked for it. Indian government is not asking for the details.......no marks for guessing why? We need to start a movement to pressurise the government to do so! This is perhaps the only way, and a golden opportunity, to expose the high and mighty and weed out corruption! Please read on......and forward to all the honest Indians to.....like somebody is forwarding to you.......and build a ground-swell of support for action! Is India poor, who says? Ask the Swiss banks. With personal account deposit bank of $1,500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the country's foreign debt, one needs to rethink if India is a poor country? DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country's foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them. Once this huge amount of black money and property comes back to India , the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably. Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. 'Obviously, these people won't be tourists. They must be traveling there for some other reason,' believes an official involved in tracking illegal money. And, clearly, he isn't referring to the commerce ministry bureaucrats who've been flitting in and out of Geneva ever since the World Trade Organization (WTO) negotiations went into a tailspin! Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country's wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks? Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries: TOP FIVE INDIA............................................... $1,456 BILLION RUSSIA.............................................. $470 BILLION U.K..................................................... ....$390 BILLION UKRAINE.................................................... $100 BILLION CHINA........................................................ ....$96 BILLION Now do the math's - India with $1,456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear. What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world's best known tax havens. And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of 'Swiss bank accounts,' the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones. In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century,

Public Comments

1. Ask this from somebody else. That's all from my side !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2. uncle just dont take that much tension stay calm i it a money misappropriated by such peoples u gave details of all of them and i am sure that not even half of them would be able to utilize this big amount in there life and secondly we are (India) still devloping with a very fast rate economically and also population wise thirdly nobody in our country is concerned about repayment of the foreign debts they just want to enjoy on there own.
3. we had known this very long ago and think the amount there is less than what actually it is. switzerland depends on our money
4. With the amount of corruption in financial institutions, I would not be surprise if it is true. Who are we trusting to handle our money? The likes of Madoff who got away with ripping people of billions and with the institution responsible to protect us against such fraud failing to act despite repeated warnings for a number of years... What about the lack of morality of financial institutions that received bailout government money that chose to spend some of this bailout money to reward the very people who brought us to this mess in the first place? I think that we as consumers should be more proactive and stop trusting those financial institutions, (that make their money through exploiting consumers - egample charging hefty interest rates to give loans) to handle our money, and find other options to invest our money. For example, my brother inlaw has opened his own profitable shop, bought real estate etc. In other words, make your own money work in legitimate buisness. In this way, you also control what your money is spent on, instead of relying on someone to place your money god knows where.
5. Don't know how your friend got that information becaue the Swiss have some of the tightest regulations in the entire world regarding banking privacy. The Swiss government, nor any other government, can obtain information about your private bank account. They must first convince a judge that you have committed a serious crime punishable by Switzerlands Penal Code. Bank secrecy will not be lifted for private matters such as inheritance or divorce if you have kept your banking information strictly confidential. It is up to plaintiffs to prove that the account exists if they require a judge to pursue the case.
6. Well your country revolt, and bring all corrupt leaders to trial, and start taking back the wealth. You had mentioned the U.S.A. is not on the list. The being is this, when you are one of the originators you or your name does not have to be mentioned. England, France, Germany and the United States, are prominent in the banking world.
7. This is one of the most enlightening piece of information I have found out recently. 1) The facts and figures are there and we all know that India is a leader in corruption.So, it can be true. 2) We as citizens can raise our voice so much so that the media can pressurize government to come out with details so that further exploitation of poor and corruption can be stopped. Thanks