Switzerland moves to seize unclaimed Indian accounts in its banks

A dozen of unidentified and unclaimed accounts in Swiss banks are at risk of seizure by Switzerland government.

The Swiss government began making details of dormant accounts public in 2015 to allow their claimants to submit necessary proof to get access to those funds, which included at least 10 accounts linked to Indians. But not even a single dormant Indian account had been claimed successfully for the past six years, as per the records available with the Swiss authorities.

Some of these Indian accounts dates back to the British era. It is estimated that around 45 million Swiss francs (over Rs 300 crore) lay unclaimed since at least 1955.