Geneva - For decades, European bank accounts and trusts and the real estate market were havens for dictators seeking safe places to deposit billions of dollars they were stealing from their countries of origin.
The pressure exerted upon European private banks and justice departments by anti-corruption watchdog groups and associations of lawyers has at last made changes to one of these notorious havens for embezzled fortunes.
In Switzerland, the government just approved a law that eases the historical secrecy of Swiss private banks.
The law allows for money deposited here by Third World dictators to be reimbursed to the legitimate governments of the dictators’ countries of origin.
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