New Delhi/Berne:
Flooded with requests for bank account details from India, Switzerland on Monday made it clear that it will not entertain any banking and tax-related requests that are based on information acquired illegally.
This comes in the backdrop of requests from countries, including India, which are in possession of account details of Swiss bank customers that were allegedly stolen or gathered through illegal means and passed on to governments.
While promising deeper financial dialogue with India for exchange of information on suspected tax evasion and other cases, Switzerland said requests would not be considered if they have been made for the purpose of 'fishing expeditions'.
In its annual report on international financial and tax matters for 2013, published on Monday, Swiss Finance Ministry (the Federal Department of Finance) said requests would also not be entertained "if they are based on information that was obtained through acts punishable under Swiss law, such as the illegal acquisition of data".
With regard to institutionalisation of financial dialogues with India, Switzerland said that "the first round of financial dialogues got under way with India" in 2012 and the aim now is to deepen these dialogues.
"The aim of financial dialogues is to develop and foster close contacts with the relevant authorities of the partner state in question," it said.
Besides exchange of information, these dialogues would also facilitate collaboration in areas of mutual interest, such as financial market policy and regulation, positioning in international financial forums and the improvement of early warning mechanisms.
Switzerland has often been accused of providing a safe haven to illicit wealth of entities from various countries, including India, and its tough banking secrecy laws make it difficult for authorities from abroad to access details of such bank accounts.