Swiss Bank

Banking in Switzerland is characterized by stability, privacy and protection of clients' assets and information. The country's tradition of bank secrecy, which dates to the Middle Ages, was first codified in a 1934 law.All banks in Switzerland are regulated by the Federal Banking Commission (FBC), which derives its authority from a series of federal statutes.

Opening a Swiss bank account too is no big deal. All you need is a valid passport and $10 million and you can go either directly to the bank or use a broker,since $10 million is the minimum balance one should have to open an account in Swiss Bank. There is a lot of paper work involved but nothing that will scare depositors away. Once an account — either numbered, which costs more, or with your name — is created, you are assured of complete privacy. Swiss bankers are not even supposed to reveal that you are a client, let alone the details of your account. So once you have a Swiss bank account, all you have to do is to ensure that whatever money you want to conceal is deposited there. There’s no way any government can get to that.Swiss Bank offer many banking account facility.

There were many news about Indians of fraud money in Swiss Bank and being deligatly charged and inquired for this.Swiss banks is the depository of the corrupt Indians that took money from the government.Many people are unhappy for this as these currupt people deposit their money in such banks and save themselves of paying tax and no inquiries on this money.These Indians must be prosecuted for corruption so that the money they took will be returned to the coffers of government.

Now if one founds you guilty of anything the government ask for the details of your personal Swiss Bank account records.Since secrecy has always had its limits. If a citizen of a country has been involved in a crime, the government can approach the Swiss courts to order banks to reveal details of bank accounts.If the courts waive the secrecy clause, the banks will have to disclose the identity and certain other details of the account.But for this it took a lot of time and also the Swiss Government must also consider that as a crime.The crime will have to be recognised as an offence in Switzerland as well.

I guess that more than some lakh crores of indian money is in Swiss Accounts,if that money is taxable then most of the Indian below poverty line get food and other civic amenities.
Aslo if that money is bring to India and put in some devlopment it is more than enough for any Indian, as this is a huge amount.Increase in such banks hides surrupt people money and privacy may be a danger for nations economy.