Customers from Brazil pulled 1.45 billion francs out of Switzerland through the end of October and moved their assets back to their home country, taking advantage of the current tax amnesty, «BBC Brasil» reported.

Almost 22,000 taxpayers registered for the program, according to the central bank, declaring assets totaling 46 billion francs. The tax authorities expect fines to reach 13.5 billion francs, according to the report.

Swiss Banks Rank Fifth Among Recipients

Swiss banks aren't No. 1 among the recipients of undeclared money from Brazil due for repatriation. The U.S. has taken the lion's share (52 percent), double the amount deposited on the Cayman Islands (23 percent), followed by the U.K. (5.7 percent) and the Bahamas (3.9 percent). Switzerland placed fifth with 3.4 percent of assets.

Apart from Brazil, Argentina and Mexico also introduced tax programs.