Swiss Banks’ Tradition of Secrecy Clashes With Quests

Swiss Banking Secrecy Law Prior to 1934 Since the end of the nineteenth century, the practice of secrecy has been deeply rooted in Swiss banking activity. At the time, this practice was based on tradition rather than on a concrete law or set of laws. Sev-eral laws existed that could be used as a legal basis for the practice of banking secrecy. Swiss Bank Account Privacy Laws Provide World Class Asset Article 47 of the Swiss Banking Act provides for criminal sanctions (imprisonment for no longer than six months or a fine of not more than 50,000 Swiss francs – nearly $40,000 US) against anyone who divulges confidential information entrusted to him or of which he has become aware in his capacity as an officer or employee of a bank, and The Sinister Face Of 'Neutrality' | FRONTLINE | PBS Swiss banks strictly adhered to the rigid restrictions of Swiss banking law in total disregard of the special situation which had arisen out of the mass murder of the Jews of Europe. Swiss to relax banking laws - SWI Mar 13, 2009

Swiss Bank Account Privacy Laws Provide World Class Asset

Nov 21, 2012 Swiss Bank Account Secrecy Laws: Our Switzerland Tax

The Swiss banking secrecy has become relative. There is no secrecy anymore for tax evasion. The Swiss bank account information will be disclosed automatically with the country of residence of the client. Beside tax relevant information, the Swiss banking secrecy laws are still applicable.

Swiss Bank Secrecy Legislation. One of the reasons Swiss banks are so trusted is that they have refined their banking laws over the years. Any changes to the Swiss legislative framework have required approval at least by Parliament and sometimes by the population as well, International Law Office explains. Swiss Bank Account Opening [10 Benefits] Ex-UBS Lawyer reveals