In Switzerland, an essential part of individual’s privacy is Swiss banking secrecy and it is also considered as a civil right. Another edge is information is kept secret in Switzerland weather an individual is Swiss or foreigner.
It is obligatory for Swiss financial institutions like CHDM to keep customer’s account details secret from any and all the third parties. In Switzerland a valuable constituent of financial business is account confidentiality.
If the funds are originated from criminal activities, the federal Government can by pass the banking secrecy act of 1934 and investigate suspected accounts. In order to avoid such occurrence CHDM complies with financial due diligence procedures.
To include the rights of banking secrecy in the Swiss constitution Swiss citizens are currently voting.
