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Switzerland rebuts black money estimates

Indians being the largest depositors of illegal money in Swiss banks, Switzerland on Friday stated that “such estimates and statistics lack evidence and are uncorroborated.” said by CBI director A.P. Singh.
The Embassy of Switzerland, in a press statement, sought to “make a clarification in view of unsubstantiated media reports that have been recently published about Switzerland and Swiss Banks.

” Without referring to, though stung by, the CBI chief's estimates of illegal funds held by Indians in foreign locations, the statement said: “Switzerland is not a tax haven.

There have been several speculations about the amount of wealth held by Indians in Swiss Banks. Such estimates and statistics lack evidence and are uncorroborated”.