Switzerland – is known all over the world as a country of enchanting natural environment and peace. Keeping its country neutral from the terrible devastation of the two world wars, today Switzerland is known as a peaceful country. Switzerland is famous for mountain towns surrounded by high mountains, delicious cheeses, and chocolates. Also, Switzerland has a particular name in the world court for one more thing, that is – “Swiss Bank”.
Due to the secrecy and security of the country's banking operations, it attracts industrialists, politicians, drug dealers, criminals, money launderers, and wealthy individuals from all over the world. That is why these people prefer to deposit their money in Swiss banks.
According to a report by The Economic Times dated 22nd June 2022, total deposits in Swiss banks in 2021 were over 2.25 trillion Swiss francs. Of which the amount of money deposited by foreign customers is about 1.5 trillion Swiss francs. Whereas in 2021 and 2019, the amount deposited by Indian customers alone was 3.83 billion Swiss Francs (approx. Rs 30,500 INR) and 2.55 billion Swiss Francs (approx. Rs 20,700 INR) respectively. Deposits of Indian customers in Swiss banks have grown by 183% in the last two years.
But there is only one reason why this huge amount of money is being deposited in Swiss banks. That is the Privacy and Security Policy of Swiss Banks. Therefore, in these banks, from influential people of different countries to criminals like to deposit their ill-gotten money.
