banking secrecy

P. , while countries known for a higher degree of banking secrecy, like Switzerland and Austria, rank at the bottom.

Offshore banking secrecy is an example of something that did not cause the crisis but has been vigorously targeted in its aftermath.

Future relations with Swiss banks must be based on an end to banking secrecy , he said .

A few days earlier, the European Commission proposed abolishing banking secrecy within EU states in cases of suspected tax evasion.

It's like our banking secrecy, you know, everyone is asking why we allow that.

Although Singapore has come under pressure over its strict banking secrecy laws, Malaysia has so far faced little criticism.

Banking secrecy and providing residence visas to wealthy foreigners are essentially a way of stimulating tourism and foreign investment.

Three EU members still defend banking secrecy: Austria, Luxembourg and (with less vigour) Belgium.

From that viewpoint, banking secrecy is a human right and states that try to overturn it are overreaching their powers.

"Until this year, we [U. S. authorities] had no access into any country that had banking secrecy laws, " he added.

Later in the week a court in Switzerland fined Mr Elmer for breaching banking-secrecy laws in a prior disclosure of documents.

The second part of the system is discussed and banking secrecy exceptions.

Later in the week a court in Switzerland fined Mr Elmer for reaching banking-secrecy laws in a prior disclosure of documents.

However the EU has remained quiet over Malaysia's investments in Burma and Labuan's banking secrecy legislation.

They normally levy no or low taxes, apply light standards of regulation and permit banking secrecy or anonymity.

Gordon Brown, the then British prime minister, announced at the G20 summit that banking secrecy "must come to an end" .

They also mentioned a broad agreement on creating a blacklist of tax havens to force changes in banking secrecy.

"Banking secrecy in Switzerland has been dealt a significant blow, " said Benn Steil, a senior fellow at the Council on Foreign Relations.

A tradition of banking secrecy, which protected clients from tax collectors, is giving way to an era of more transparency.

Another draw is Malaysia's banking secrecy legislation, which is especially strict in Labuan, an offshore banking centre.

"The banking secrecy of the past must come to an end, " said Britain's prime minister.

Those who press for an end to banking secrecy argue that people who hide their assets have shifty motives, such as to avoid paying taxes.

Switzerland chose the latter route because of its banking secrecy laws.

The third part is mainly discussed by banking secrecy system caused by the legal problems.

The era of banking secrecy is over.

"Banking secrecy remains intact, " Mr Merz, who is also Switzerland's finance minister, told a press conference in Bern.

"It 's questionable, whether we can continue to hide tax evaders behind banking secrecy, " Gruebel told Finanz und Wirtschaft .

Some European countries continue to resist efforts to require them to scale back on banking secrecy;