Swiss Banks Resume Secrecy
Swiss courts have ruled that disclosing names on bank accounts in would be in violation of Swiss laws regarding banking secrecy. This is after UBS, the large Swiss bank, had announced the intention to reveal the names of its U.S. clients who might be in violation of U.S. tax laws. The Swiss cabinet plans to continue its talks with the U.S. government and acknowledges that the U. S. might continue civil proceedings against UBS.
Posted by on 01/31 at 03:29 PM