Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI Director said today.
India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.
“It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians,” CBI Director AP Singh said speaking at the inauguration of first interpol global programme on anti-corruption and asset recovery.
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http://www.firstpost.com/india/indi...0-billion-usd-in-banks-abroad-cbi-211336.html
India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.
“It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians,” CBI Director AP Singh said speaking at the inauguration of first interpol global programme on anti-corruption and asset recovery.
source
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http://www.firstpost.com/india/indi...0-billion-usd-in-banks-abroad-cbi-211336.html