Amid a continuing crackdown on Swiss bank account holders with suspected illicit money, Switzerland has stepped up the process of sharing details on such individuals. Potluri Rajamohan Rao is the latest Indian national to get a notice in this regard. At least 14 Indians with accounts in Switzerland-based banks were issued notices by the Swiss authorities last month, in which they have been given one last chance to appeal against the sharing of their details with India. There has been a significant surge in the number of cases where it has initiated processes to share information on Indians with Swiss bank accounts. However, officials said Mr. Rao has been associated with various businesses, including telecom, in the southern States of India.

Source: The Hindu June 02, 2019 15:33 UTC