Banking Secrecy

Brazil has reportedly postponed the pilot of its Drex CDBC to 2025 as the central bank feels, blockchain privacy solutions are insufficient. The regulator is looking to prevent financial inconvenience to Brazilian nationals. The CBDC is expected to finetune the country’s financial compliance, banking, and tax secrecy regulations.

El Salvador’s state bank BANDESAL has refused to share details of the country’s current BTC holdings. The information was requested by ALAC El Salvador — a non-governmental anti-corruption bureau. El Salvador’s secrecy around its BTC possessions could be a way to shield its government from criticism for exposing its public to major financia...

The first employee of BitMEX pleaded guilty on Monday to violating US bank secrecy laws by failing to establish an anti-money laundering program, following guilty pleas to the same charge by thecryptocurrency exchange's three co-founders.

As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen such individuals last week itself.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

On Friday, the Swiss Federal Council ratified the AEOI with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money.

A number of policy measures have been put in place by Swiss authorities in the recent years to address concerns of its banks providing high secrecy walls around their global clients.

Switzerland, which has been working to end its years-long practice of banking secrecy, said Thursday it aimed to dramatically increase the number of countries it cooperates with towards international fiscal transparency.

Making it clear that India has no tolerance towards black money, Prime Minister Narendra Modi today called for an end to "excessive banking secrecy" in some countries so that ill-gotten money stashed away abroad can return to their country of origin.

Continuing to shed its famed banking secrecy veil, Switzerland today made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians - Sayed Mohammed Masood and Chand Kauser Mohammed Masood.

Herve Falciani, whistle-blower, on his plans to assist India.

A man who acknowledged lying when he served as a key witness in a major French tax fraud investigation was sentenced to a two-year suspended prison term in Switzerland Friday.

After NDTV's exclusive interview on November 20 with whistle-blower behind the biggest data heist in the history of banking secrecy, the government established contact with Herve Falciani via NDTV in Paris. NDTV's Resident Editor in Europe, Noopur Tiwari spoke to Mr Falciani immediately after his first conversation with Indian investigators over th...

It is just two big banks - UBS and Credit Suisse - which appear to be accounting for almost two-third of the total money held by Indians in the Swiss banking system, known for their famed secrecy walls.

Indians' money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system.

Brazil has reportedly postponed the pilot of its Drex CDBC to 2025 as the central bank feels, blockchain privacy solutions are insufficient. The regulator is looking to prevent financial inconvenience to Brazilian nationals. The CBDC is expected to finetune the country’s financial compliance, banking, and tax secrecy regulations.

El Salvador’s state bank BANDESAL has refused to share details of the country’s current BTC holdings. The information was requested by ALAC El Salvador — a non-governmental anti-corruption bureau. El Salvador’s secrecy around its BTC possessions could be a way to shield its government from criticism for exposing its public to major financia...

The first employee of BitMEX pleaded guilty on Monday to violating US bank secrecy laws by failing to establish an anti-money laundering program, following guilty pleas to the same charge by thecryptocurrency exchange's three co-founders.

As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen such individuals last week itself.

Money parked by Indians in Switzerland's banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls.

On Friday, the Swiss Federal Council ratified the AEOI with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money.

A number of policy measures have been put in place by Swiss authorities in the recent years to address concerns of its banks providing high secrecy walls around their global clients.

Switzerland, which has been working to end its years-long practice of banking secrecy, said Thursday it aimed to dramatically increase the number of countries it cooperates with towards international fiscal transparency.

Making it clear that India has no tolerance towards black money, Prime Minister Narendra Modi today called for an end to "excessive banking secrecy" in some countries so that ill-gotten money stashed away abroad can return to their country of origin.

Continuing to shed its famed banking secrecy veil, Switzerland today made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians - Sayed Mohammed Masood and Chand Kauser Mohammed Masood.

Herve Falciani, whistle-blower, on his plans to assist India.

A man who acknowledged lying when he served as a key witness in a major French tax fraud investigation was sentenced to a two-year suspended prison term in Switzerland Friday.

After NDTV's exclusive interview on November 20 with whistle-blower behind the biggest data heist in the history of banking secrecy, the government established contact with Herve Falciani via NDTV in Paris. NDTV's Resident Editor in Europe, Noopur Tiwari spoke to Mr Falciani immediately after his first conversation with Indian investigators over th...

It is just two big banks - UBS and Credit Suisse - which appear to be accounting for almost two-third of the total money held by Indians in the Swiss banking system, known for their famed secrecy walls.

Indians' money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system.