Swiss Bank Account Secrecy Laws have protected clients’ names and accounts for years; in effect allowing some clients to squirrel their finances away to avoid their own country’s tax laws. In 2009 the UBS case shed light on how one of Switzerland’s premier banks would knowingly assist its clients in schemes to avoid taxes.
Swiss Bank Secrecy: The Facts - moneyland.ch Although the term bank secrecy is commonly used to describe Swiss banking discretion laws, experts generally use the more accurate term “bank customer secrecy”. Bank customer secrecy protects bank customers and their privacy. It does not provide legal protection for banks, as the term bank secrecy may lead one to believe. Swiss top court knocks down bid to extend banking secrecy Oct 10, 2018 Chipping away at Swiss bank secrecy - CNNMoney Jul 05, 2013
Swiss banks were watched closely by the German Gestapo. It was after Germans began being put to death for holding Swiss accounts that the Swiss government was even more convinced of the need for bank secrecy. In 1984, the people of Switzerland once again voted in favor of maintaining bank secrecy -- by a whopping 73 percent. Nazi Gold
Swiss Banking Privacy, Security, Tax Savings and Best Tips Swiss Banking privacy and secrecy has been in force since as far back as banks can trace their origins, and officially codified as part of Swiss laws, with severe criminal penalties for any violations, since the Swiss Banking Law of 1934. This law was enacted as a direct result of French Socialist-fervor pressure, and German Nazi attempts at The Death of Swiss Bank Secrecy - LewRockwell
Swiss bank secrecy Banking secrecy is intended to prevent banks from revealing the existence of your account or disclosing information about it without your permission. Bank secrecy covers all your business relations with the bank; it is not limited in time and concerns all people who, working for the bank, were in contact with your account.
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