No claimants for dormant Swiss accounts of Indians; some may get liquidated soon

Money Control | Nov 10, 2019 at 6:18 AM
  • No claimants have come forward for about a dozen dormant Swiss bank accounts linked to Indians, leaving the funds lying in these accounts at the risk of getting transferred to the Switzerland government.
  • The Swiss government began making details of dormant accounts public in 2015 to allow their claimants submit necessary proof to get access to those funds.
  • The first batch of details about accounts held by Indians in Switzerland-based financial institutions was given to India recently under this automatic information exchange information and the next such exercise would take place in September 2020.