Thousands of so-called "politically exposed persons", or PEPs -- a category that includes heads of state and other top officials -- hold Swiss bank accounts, a Swiss foreign ministry official said Monday.
Swiss authorities estimate that "there are thousands of PEPs (with accounts) in Switzerland, not hundreds," Valentin Zellweger, who heads the ministry's Directorate of International Law, told reporters.
Switzerland has repeatedly been embarrassed by revelations, splashed across front pages worldwide, of global political heavyweights hiding funds -- sometimes embezzled from public coffers -- in the Alpine nation's famous banks.
But the country has not taken such scandals sitting down: it has been freezing suspicious assets for a quarter century. Full story...
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Swiss authorities estimate that "there are thousands of PEPs (with accounts) in Switzerland, not hundreds," Valentin Zellweger, who heads the ministry's Directorate of International Law, told reporters.
Switzerland has repeatedly been embarrassed by revelations, splashed across front pages worldwide, of global political heavyweights hiding funds -- sometimes embezzled from public coffers -- in the Alpine nation's famous banks.
But the country has not taken such scandals sitting down: it has been freezing suspicious assets for a quarter century. Full story...
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