bank secrecy

"This is a major victory for the U. S. , " said Fox-Pitt Kelton analyst David Williams in London. "Bank secrecy is dead. "

But UBS said it was unable to comply because that would entail breaking Switzerland's strict bank secrecy laws.

Although Switzerland, Luxembourg and others are to relax their bank secrecy laws, this may not be the end of the changes.

The case marks the biggest challenge yet by a foreign government to Switzerland's long and jealously guarded tradition of bank secrecy.

The German and American governments are leading an attack on bank-secrecy laws in tax havens.

Under international pressure, Switzerland has indicated a willingness to relax its bank secrecy rules and abide by new global guidelines.

The news ratchets up the pressure on Swiss bank secrecy.

From Nazis to modern-day criminals, Switzerland's legendary bank secrecy has long been exploited by those with assets to hide.

A litany of legal wrangles with US tax authorities over tax evasion and bank secrecy further harmed its reputation.

Bank secrecy laws should no longer be an impediment to justice.

Even before this month's developments on bank secrecy, most private banks were curbing their expansion plans.

The problem is not the tax rate but Swiss-style bank secrecy.

When the OECD proposed an agreement to restrict bank secrecy, the Bush administration vetoed that initiative, too.

Switzerland has benefited from its bank secrecy laws.

US politicians expatiating on the evils of bank secrecy are regarded in the same light.

Even before the recession, Swiss bank secrecy and low cantonal tax rates were under fire.

Liechtenstein's move is likely to add to pressure for nations such as Switzerland to alter its bank-secrecy practices.

Bank secrecy laws have been in effect scrapped and are no longer an obstacle to money-laundering investigations.

For instance, while the G20 focused attention on the role of bank secrecy in tax evasion, the UN agreement highlights corruption.

This is not about bank secrecy or hiding taxes.

The deal was reached last year, but many Swiss politicians maintain it undermines Switzerland's reputation for bank secrecy.

The Discussion on the Bank Secrecy Legal System

bank secrecy, privacy and data protection, consumer rights

Academic economists too have begun analyzing the role of central bank secrecy in models of monetary policy. 4