92 Lankans have Swiss accounts

Sri Lankan citizens hold US$ 58.3 million in Swiss bank accounts.

According to ‘Swiss Leaks,’ those comprise 129 bank accounts covering 92 clients. The maximum amount of money associated with a single client connected to Sri Lanka was US$ 10.7 million.

Sri Lanka is ranked 112th among the countries with the largest US dollar amounts in the leaked Swiss files.

  • The largest was Switzerland with US$ 31.2 billion.
  • Second is UK (US$ 21.7 billion)
  • The third largest country with the highest value in Swiss bank accounts is Venezuela, a third world country, mired in corruption and social and political unrest (US$ 14.8 billion).
  • Fourth is the world’s largest economy the USA (US$13.4 billion).
  • India has US$ 4.1 billion worth of Swiss bank accounts. It’s ranked 16th among countries which have the largest Swiss accounts in descending order.

Meanwhile, 20th equal were three other third World Countries, namely Egypt, Argentina and Turkey with US$ 3.5 billion each. UAE which may be classified as a first World country also had an equivalent amount (US$ 3.5 billion).

swiss-leaks_09_02_2015In related developments, 25th ranked equal are Panama and Uruguay, two other third World Countries (US$ 2.8 billion each), 30th Mexico (US$ 2.2 billion) and 31st South Africa (US$ 2 billion)

Additionally, there are a total of 12 other third World countries, whose citizens hold Swiss bank accounts and which are also among the top 34 countries, overall, on value basis.

Those are: Bahamas and Brazil, ranked eighth equal with US$ 7 billion each. 12th ranked Lebanon (US$ 4.8 billion), 15th ranked Cayman Islands (US$ 4.3 billion) and 17th British Virgin Islands (BVI): US$ 4 billion.

China, the world’s second largest and Japan, the world’s third largest, are not among the 34 largest countries where its citizens hold Swiss bank accounts.

Cayman Islands and BVI also have a reputation of being money laundering sites, where black money too is deposited in banks operated in those tiny islands.