ISLAMABAD: After Panama Papers and Wiki Leaks, the world is going to see another mega financial scam shortly as a network of Organised Crime and Corruption Reporting Project (OCCRP), having 47 media outlets in its network, has unearthed massive money parked in Swiss banks.
According to OCCRP, the Swiss bank scam is outcome of the largest investigations conducted by the journalists working for 47 media outlets globally. The investigators will release data of 18000 account holders of a Swiss bank parked over $:100 billion in just one bank Swiss bank.
Switzerland is considered as a heaven for parking of ill- gotton money. its banks, as per local laws, are not obliged to share details of its account holders with any individual or government for any reason.
The Swiss laws vertually serve the purpose of its banking system to help the corrupt to make money by misusing their positions world over and then launder it into its banks . In other words , Switzerland is promoting corruption world over accepting ill-gotton money in its banks. But the question which might boggle your mind would be. Who pays the price of corruption done by the powerful elite for parking money in Swiss banks?. The corrupt may be the rulers, bureaucrats , judges , journalists or generals. The answer is the poor of the victim society whose wealth is stolen by powerful elite and later deposited in Swiss banks.
By exposing the level of parked Ill- gotton money in Swiss banks, OCCRP has done a great job.
Parking of looted money in Swiss banks is nothing new to Pakistanis. They still remember the case of $60 million parked allegedly by Pakistan People Party (PPP) top leadership in a Swiss bank. Pakistan despite best efforts could not get this money back from Swiss bank. The same would be the case with other many countries where corrupt rulers make money through illegal means and shift it to Swiss banks.
