Swiss banks release list of missing account holders, including Indians

December 16, 2015 17:27

Swiss banks released on Wednesday the names of more than 2,600 holders of accounts that have lain dormant for at least 60 years, giving them or their heirs one last chance to claim their wealth before it reverts to the state.

The Press Trust of India reports that list includes the names of at least four Indians.

The banking industry said around 44 million Swiss francs (29.6 million) were lying fallow in bank accounts that had gone untouched since at least 1955. Around 80 safety deposit boxes whose contents were unclear were also gathering dust.

People can search for dormant accounts on the website https://www.dormantaccounts.ch that went live on Wednesday under new legislation that took effect in January.

"By publishing this information, the banks are making a last attempt to re-establish contact with the customer," said Claude-Alain Margelisch, chief executive of the Swiss Bankers Association.

"For the banks, on the other hand, these new regulations create legal certainty for the treatment of dormant assets."

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