Swiss Bank

Swiss Bank

A bank based in Switzerland. Swiss banks are famous worldwide for their secrecy, which is mandated by Swiss law. This secrecy has resulted in a great deal of laundered and other illegal money to be deposited in Swiss accounts. Historically, this has formed a significant portion of the Swiss banking sector. However, the secrecy is not absolute and may be lifted by following appropriate procedures. See also: CHF, Gnomes of Zurich.
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If we strictly interpret the law, future information after signing of the agreement would be available, but we would try our level best to get past information as well specifically details of Swiss bank accounts of Pakistanis,' he added.
In 2008, Birkenfeld was convicted of assisting Americans with Swiss bank accounts in their tax evasion schemes.
US authorities have focused on Swiss bank accounts after revelations emerged about $20bn of US client money hidden from the IRS by private bankers at UBS.
Swiss bank Credit Suisse said on Friday it sees a maximum hit of 90 million Swiss francs ($94.
Survival of UBS The widening probe grew out of an investigation of Swiss bank UBS, which in 2009 entered into a deferred-prosecution agreement and paid a $780 million fine after admitting to wrongdoing in selling tax-evasion services to wealthy Americans.
Or perhaps, the inquiry on the source of money to be deposited in a Swiss bank is nowhere in the form, which customers are asked to fill in, before smart guys standing nearby disappear with their suitcases, which are crammed with money and diamonds.
German daily Frankfurter Allgemeine Zeitung (FAZ) reported that tax authorities were investigating Swiss bank Julius Baer as well as the banking giant UBS, suspected of transferring German clients' funds to Asia, including Singapore.
Moreover, Swiss bank clients who are in the mid-range of fortunes and will not have the possibility of delocalising to Singapore, for instance, might therefore been seen as prisoners of the system.
ZURICH/BERLIN, Sha'ban 30, 1432, Jul 31, 2011, SPA -- Switzerland and Germany will sign a deal to regularise untaxed money stashed in secret Swiss bank accounts on Aug.
Credit Suisse is the most high-profile Swiss bank to be targeted by U.
Summary: Libya has withdrawn most of its assets from Swiss bank accounts in a continuing diplomatic crisis between the two countries, the official Swissinfo.
In the mid-1990s, Switzerland was under increasing scrutiny when Jewish organisations raised questions about dormant Swiss bank accounts that held the assets of Holocaust victims.

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