Pakistani politicians and bureaucrats have billions of dollars concealed in Swiss bank accounts
According to media reports on Sunday, a data breach at a major Swiss bank exposed information on 600 accounts related to 1400 Pakistani citizens. Several prominent politicians and bureaucrats are among the account holders.
The Pakistani journal further said that numerous politically exposed individuals failed to disclose these accounts, which they opened while holding public service, in their assets declarations to the Pakistani Election Commission. Following the so-called Panama Papers in 2016, the Paradise Papers in 2017, and the Pandora Papers last year, the latest disclosures have surfaced. According to The New York Times, a self-described whistleblower revealed data on more than 18,000 bank accounts with a combined value of more than $100 billion to the German daily Suddeutsche Zeitung. Further revelations are expected in the upcoming days.