February 15, 2011 6:35 PM

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Switzerland relaxes norms for sharing information on secret bank accounts

Switzerland has relaxed norms for sharing information on secret bank accounts of overseas tax offenders by allowing varied modes of identification. At present, only name and addresses are accepted as valid identity modes. The move could help India in its black money trail. But the European nation will still consider as impermissible any 'fishing expeditions' or allowing the foreign countries to trawl through Swiss bank accounts in the hope of finding something of their interest.The changes were made by the Swiss government's finance ministry today.

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