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Why Is Stolen Money Hidden In Swiss Banks? - Politics - Nairaland

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Why Is Stolen Money Hidden In Swiss Banks? by toluxa1(m): 9:24am On Jan 17, 2013
I sit in the living room watching BBC News and a piece of news on the greek tax evasion scandal is on. It was discovered that about 2000 greeks (rich) have money in swiss accounts. I have always wondered, What is it about SWISS ACCOUNTS? What makes it so easy to hide stolen money in swiss banks? Is there something about there banking policies. Countless corrupt officials (even in Nigeria) have been caught with large sums of money in swiss banks (e.g Abacha, Ibori, etc). So what's so special about Swiss banks?
Re: Why Is Stolen Money Hidden In Swiss Banks? by Ikengawo: 9:26am On Jan 17, 2013
They offer absolute secrecy which makes them ideal from criminals
it's also a neutral country in all armed conflicts so people feel safer having money there because they'll never have a problem using it anywhere in the world because of politics

and they also offered some of the best tax incentives in the world though idk if it's the same since they're trying to clean up their image

2 Likes

Re: Why Is Stolen Money Hidden In Swiss Banks? by toluxa1(m): 10:40am On Jan 17, 2013
But are they not aware that majority of the huge sums people deposit with them are stolen funds? They support this or they just don't care?

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Re: Why Is Stolen Money Hidden In Swiss Banks? by salam001(m): 11:12am On Jan 17, 2013
Just passing by.*chewing gum*

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Re: Why Is Stolen Money Hidden In Swiss Banks? by Nobody: 11:26am On Jan 17, 2013
Switzerland and sweden are non-allied members in europe.I think with that they are somehow insulated from laws and regulations imposed on EU members states.Anyways,dubai and china seem to be the hottest spots for money laundering.

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Re: Why Is Stolen Money Hidden In Swiss Banks? by Ikengawo: 12:16pm On Jan 17, 2013
toluxa1: But are they not aware that majority of the huge sums people deposit with them are stolen funds? They support this or they just don't care?
in the past they did care but they've changed
Re: Why Is Stolen Money Hidden In Swiss Banks? by Babaelemu: 12:32pm On Jan 17, 2013
salam001: Just passing by.*chewing gum*
you're very stupid. And immature

12 Likes

Re: Why Is Stolen Money Hidden In Swiss Banks? by Nobody: 12:35pm On Jan 17, 2013
Ikengawo:
in the past they did care but they've changed

Yes they changed after they have used stolen wealth from African nations by despotic rulers to develop their nations.
Re: Why Is Stolen Money Hidden In Swiss Banks? by reloboy(m): 12:35pm On Jan 17, 2013
Simply because it is secured,untraceable and it is know to oneself except you spill it outta ur self
Re: Why Is Stolen Money Hidden In Swiss Banks? by Flygerian1(m): 12:38pm On Jan 17, 2013
Babaelemu: you're very stupid. And immature
Ah ah! Free d guy nau? He is entitled to "his" opinion. Ignore such comment next time.

5 Likes

Re: Why Is Stolen Money Hidden In Swiss Banks? by Nobody: 12:39pm On Jan 17, 2013
salam001: Just passing by.*chewing gum*
Evrytim ur passin chewing gums, one day ur premoler n moler go fall comot.

9 Likes

Re: Why Is Stolen Money Hidden In Swiss Banks? by 80million1: 12:45pm On Jan 17, 2013
*speechless*
Re: Why Is Stolen Money Hidden In Swiss Banks? by Nobody: 12:48pm On Jan 17, 2013
JAMB QUESTION

TYPE C

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Re: Why Is Stolen Money Hidden In Swiss Banks? by dedons: 12:49pm On Jan 17, 2013
Dem 4 bring am 4 ur backyard?abi na our banks 4 here wey dem no fit trust?
Re: Why Is Stolen Money Hidden In Swiss Banks? by NoContract(m): 12:50pm On Jan 17, 2013
Because she sells agege bread.
Re: Why Is Stolen Money Hidden In Swiss Banks? by kufre2010: 12:53pm On Jan 17, 2013
Swiss bank is were stolen money(expecially in African) ar being received. They operate a top secret policy that is difficult 4 anti-craft agency 2 trace d money. Dat is were most nigerian looters keep their money
Re: Why Is Stolen Money Hidden In Swiss Banks? by Mamaflex(f): 12:53pm On Jan 17, 2013
Because they both start wit letter "S" 'Stolen, Swiss'.

1 Like

Re: Why Is Stolen Money Hidden In Swiss Banks? by fuqua: 12:54pm On Jan 17, 2013
They don't use names with swiss accounts just numbers.
Re: Why Is Stolen Money Hidden In Swiss Banks? by yuzedo: 12:56pm On Jan 17, 2013
kufre2010: Swiss bank is were stolen money(expecially in African) ar being received. They operate a top secret policy that is difficult 4 anti-craft agency 2 trace d money. Dat is were most nigerian looters keep their money
((((((((((((((((((((( RAPTURE ))))))))))))))))))))))))))) shocked shocked shocked grin grin grin

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Re: Why Is Stolen Money Hidden In Swiss Banks? by FrontPageLawyer(m): 1:12pm On Jan 17, 2013
complimentary benefit of SECRECY LEGISLATION. It has enacted laws establishing strict corporate and banking confidentiality. If this confidentiality is breached, there are serious consequences for the offending party. In this case, the looters such as OBJ,TINUBU,JONATHAN, PATIENCE, SILVA, IBORI and co thieves have clearly avoided government interference and moreover those offshore banks operate with a lower cost base and can provide higher interest rates than the legal rate in home country due to lower overheads.
Re: Why Is Stolen Money Hidden In Swiss Banks? by Dee60: 1:13pm On Jan 17, 2013
That was then. There is loot all over now, Dubai, Hong Kong, USA, Belize, etc! If they look well, they will also find such money in some Nigerian banks....Some Africans also store their loots (in dollars and pounds) inside vaults specially built in their houses.
Re: Why Is Stolen Money Hidden In Swiss Banks? by Dee60: 1:15pm On Jan 17, 2013
You cannot take any money to heaven. Surrender your life to the Lord Jesus Christ today. Go to a Bible believing church around you today for more details.

8 Likes

Re: Why Is Stolen Money Hidden In Swiss Banks? by dilbert100: 1:18pm On Jan 17, 2013
its virtually untraceable thats why
Re: Why Is Stolen Money Hidden In Swiss Banks? by Symphony007: 1:22pm On Jan 17, 2013
Along with the countries like the cayman islands, bermuda nad others. Switzerland is a massive secretive, highly skilled tax shelter. And avenue for staching of stolen money. Infact that is one of the major means of revenue of the swiss, that's why they are not in the e.u!! Guys like mitt romney are regular customers.
Re: Why Is Stolen Money Hidden In Swiss Banks? by tirtimy: 1:23pm On Jan 17, 2013
fuqua: They don't use names with swiss accounts just numbers.
Cool if true and I think that should the reason.
Re: Why Is Stolen Money Hidden In Swiss Banks? by batstan(m): 1:25pm On Jan 17, 2013
Babaelemu: you're very stupid. And immature
wetin d guy do u.....lol, hahahahahah
Re: Why Is Stolen Money Hidden In Swiss Banks? by batstan(m): 1:29pm On Jan 17, 2013
Wizee: Evrytim ur passin chewing gums, one day ur premoler n moler go fall comot.
i no fit laff abeg....hahahahahaha
Re: Why Is Stolen Money Hidden In Swiss Banks? by deletrue: 1:30pm On Jan 17, 2013
Babaelemu: you're very stupid. And immature
make you no yaba. Some of this and their likes just like to make fun. They make me laugh too much.
Re: Why Is Stolen Money Hidden In Swiss Banks? by mamagee3(f): 1:44pm On Jan 17, 2013
I think it has to do with the Swiss being so disciplined
Re: Why Is Stolen Money Hidden In Swiss Banks? by Santino1(m): 2:01pm On Jan 17, 2013
fuqua: They don't use names with swiss accounts just numbers.

Where did you get this from??
Re: Why Is Stolen Money Hidden In Swiss Banks? by HARDDON: 2:04pm On Jan 17, 2013
maximum security measures

sleek policies garnished with low taxes

they dont go folding up tommorow. peace of mind of the depositor

unbounded by crazy foreign laws.

but most of all, this is their specialization. and one of their money making avenues.

they are not like nigeria where we have oil, yet cant refine same in our confines.
Re: Why Is Stolen Money Hidden In Swiss Banks? by Nobody: 2:05pm On Jan 17, 2013
As a banking student, I have learnt that Swiss banks are immune from external pressure.
Their duty of secrecy as a banking duty is very strong.

@ OP, when next u steal money, run to Switzerland, its safe. Not ICJ can order its release unless the bank wants to. Gbabe

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