Are hiding information of money of a citizen from his country is justified?
By 1anurag1
@1anurag1 (3576)
India
June 30, 2011 12:42pm CST
Are hiding information of money of a citizen from his country is justified by the some foreign banks is justified?
This is good to have a practice to hide the information of the depositors. But if country asks for the information I think the information must be provided to the country if she asks for its citizen. Most of the time there the money deposited is the form of black money , so the country has the right to control and know the information for the investigation and those banks must co-operate with those countries , what are your views.
1 person likes this
3 responses
@dorannmwin (36392)
• United States
4 Jul 11
I personally think that it is intrusive that people are expected to share everything about their finaces with the government. The reason that I think that is the situation. With that said, I do think that the fact that people are taxed for every single dime of money that we have is wrong. I think it would be easier to get people to disclose their finance situations if we weren't punished for being people that were savers.
1 person likes this
@Simon1223 (903)
• China
31 Aug 11
In my view, there should be a balance between the power of government and the privacy of citizens. Keeping the information of client in secret is one of the basic rules for a bank. It should not reveal the information to foreign government unless the government has legal excuses. I know the fact that many deposits of citizens in foreign banks are related to black money, but there are also many white deposits which should not be sacrificed in the name of national interest.
@anurag3786 (6267)
• India
24 Jul 11
I think if there is no harm to give information about a citizen’s money then bank should gives details about their customers to any country government if they know that these persons are from this country. I think mostly of our Indians hiding their black money in swish banks and don’t want to show it to our country. I think it is not good to hide this black money from your country.
