Swiss Govt Asks Its Banks To Check 'Untaxed' Money Flow

In a move that has implications for India’s fight against black money, the Swiss Government has asked its banks to prevent acceptance of “untaxed assets” in their accounts without violating client confidentiality.

“Banks’ existing due diligence requirements are to be extended in order to prevent the acceptance of untaxed assets of foreign clients, including Indians, more effectively.

From: http://ping.fm/m4rYC