Swiss bank accounts: Notices to Indian clients continue; P Rajamohan Rao latest
Amid a continuing crackdown on Swiss bank account holders with suspected illicit money, Switzerland has stepped up its process to share details of such individuals with Potluri Rajamohan Rao being the latest Indian national to get a notice in this regard.
At least 14 Indians, with accounts in Switzerland-based banks, were issued notices by the Swiss authorities last month, in which they have been given one last chance to appeal against sharing of their details with India.
According to officials, many more such notices are in the offing in the coming weeks as India has sought details about a large number of Indian clients of Swiss banks who are suspected to have indulged in illicit financial activities.
The latest such notice was issued to one Potluri Rajamohan Rao on May 28, asking him to file an appeal, if any, within ten days in connection with the 'administrative assistance' sought by the Indian authorities.
In the preceding week, at least 11 such notices were issued on a single ...