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Why do the rich keep their money in Swiss banks and what makes them different from other banks in the world?

2023-05-19 17:48:01Biznes SHKRUAR NGA REDAKSIA VOX
Why do the rich keep their money in Swiss banks and what makes them different
Swiss banks

Many people around the world turn to Swiss banks to keep their money safe. The factors that make Swiss banks so reliable come from the history of the country, the technological system they use and their economic stability.

The Swiss have long kept the money of celebrities, actors, politicians or businessmen safe, and Swiss banks are very popular in this regard.

But what distinguishes them from other banks in other countries of the world?

Everything is based on the general history of Switzerland. The country remained neutral on many national issues, including the two world wars. After this neutral stance, Switzerland, which expanded its banking sector, quickly became a "world banker".

The neutral stance has allowed various dictators and political leaders to "protect" their money in Switzerland. Switzerland's mountainous terrain also made it easy for the Swiss to create large secret cellars. In addition, Switzerland's economic stability has also built deep confidence in the country.

Over time, Switzerland has increased its security measures and introduced many technological systems. In this way, it has become impossible to access the identity of customers, except for a limited number of people. It was not possible to learn the names of the people who had an account, let alone the amount in a person's bank account.

While this created a good situation for privacy, over time it led to many criminals smuggling money out of the Helvetic state. In the 1970s, a "war" broke out between the two countries, when drug cartels in the United States kept their money in Swiss banks.

Due to the attack on the Twin Towers on 9/11, the US government forced Switzerland to expose suspicious accounts, which further aggravated the situation. However, since 2018, the Swiss Federal Tax Administration started sharing the information of people who have accounts in their banks with their respective countries.

While it would be wrong to say that Swiss banks are still as reliable as they were before, they are still highly trusted for privacy and asset protection.


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