How does Swiss Bank attract huge flow of money from forign countries?
November 21, 2010 4:01am CST
It is often reported that the wealthy,powerful and affluent people from many countries all over the world prefer to lock up their money in Swiss bank account.It is also reported by media that huge unaccounted black money amassed through illegal sources by corrupt politicians,bureaucrats,industrialists and criminals find its way easily to Swiss Bank. What is the specialty of Swiss Bank in attracting huge foreign money?
21 Nov 10
From what I know (not that I'm a specialist in how to handle huge amounts of money ), the Swiss banking system guarantees the privacy like no other... basically, nobody can ask how much money you have in a Swiss account, and therefore nobody can ask how you obtained it in the first place. If you add to that that the Swiss banks have a reputation of being very solid and never letting down their clients, they're everybody's favorites.