5 ways to identify suspicious activity with safe deposit boxes
Swiss banks are synonymous with anonymity. But the threats of money laundering and terrorist financing are enough to force some banking changes — particularly when it comes to safe deposit boxes.
Recently, India and Switzerland have been working closely together to identify Indians who have potentially been stashing illicit money in Swiss safe deposit boxes. Switzerland has already disclosed account information at the request of the Indian government, an action that would not have taken place 20 years ago. But the Swiss government also issued assurances that its safe deposit box regulations are sufficient to deal with increased money laundering risks at this time.
Just how popular are safe deposit boxes today? Click here to read the rest of this story. . .