U.S. joins Europe's fight against Swiss banking secrecy

05/21/2008 | Spiegel Online (Germany)

European finance ministers have been battling against the banking secrecy laws of Switzerland for decades, and now they are getting support from the U.S. The Swiss system is under increasing pressure as U.S. investigators look into UBS for allegedly helping American clients evade taxes. And according to attorney Robert Heim, a former SEC investigator, foreign authorities around the world are scrutinizing the Swiss laws and getting tougher on tax evaders.

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Spiegel Online (Germany)

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