The Independent Organized Crime and Corruption Reporting Project, which uncovers crime and corruption, has announced the release of an exposé named “Suisse Secrets,” which contains information on bank accounts in Switzerland totaling more than $100 billion.
Leaked records of 18,000 bank accounts with assets worth more than $100 billion are “coming soon,” according to the organization.
“One of the world’s largest investigations into the secretive world of Swiss banking has been conducted by OCCRP and 47 other media outlets,” according to OCCRP.
The probe, according to the OCCRP, revealed the financial secrets of politicians, criminals, and spies.
The money in these accounts, according to the project, is worth Rs 17,600 billion.
Hundreds Of Pakistanis Included in Suisse Secrets
Hundreds of Pakistanis, ranging from business persons to politically exposed individuals and those who have been investigated, and in some cases convicted, in connection with various criminal actions, have had their secret wealth disclosed by a Swiss bank leak.
The average highest balance in Pakistani accounts was 4.42 million Swiss francs (Rs841 million), compared to 7.5 million Swiss francs in the leaked data (Rs1.42 billion). The data revealed around 200 clients with accounts worth more than 100 million Swiss francs (Rs19 billion), with more than a dozen having accounts worth billions.
This information was revealed by a whistleblower with the Süddeutsche Zeitung, a German newspaper that coordinated the investigation with the Organized Crime and Corruption Reporting Project, the world’s largest investigative journalism organization with presence on all continents. The whistleblower deemed the Swiss financial confidentiality restrictions to be immoral in a statement.
The Panama Papers were leaked in 2016, the Paradise Papers were leaked in 2017, and the Pandora Papers were leaked last year. The fresh revelations are expected to increase legal and political scrutiny on the Swiss banking industry in general, and Credit Suisse in particular.