Swiss bank accounts remain secret
Posted on: Wednesday, 8 July 2009, 09:57 CDT
A new U.S.-Swiss treaty on bank secrecy may not help the Internal Revenue Service catch tax evaders, a Swiss official says.
Swiss Vice President Doris Leuthard said under the amended treaty, the United States will have to supply the names of suspected tax evaders to obtain information about their Swiss bank accounts, The Washington Post reported Wednesday.
This is basic, basic information they will need to give us,
Leuthard said.
But U.S. authorities don't necessarily have the names, the Post reports.
Attorney Jack Blum, who specializes in international tax and money-laundering matters, said he doesn't think the change will solve the problem.
The U.S. government has asked a federal court to order Switzerland's largest bank, UBS, to turn over the names of thousands of Americans suspected of hiding money from the IRS.
Source: United Press International
Related Articles
- FBI: Robber showed ID to teller
- Silicon Valley Bank Named Top Bank for Cleantech Companies
- Major Swiss-Based Multinational Bank Implementing Seven-Digit Deal With Actimize, a NICE Systems Company, for Equities Compliance Surveillance
- Wife: Bank told hubby about account
- Don't Fall Victim to Identity Theft This Tax Season
- Bit9 Named to Bank Technology News' 2008 Innovators Ranking
- Bank of America Names First Technology Fellows
- Zoellick Named World Bank President
- Digital Resolve Named As a Top Bank Technology Innovator for Second Consecutive Year
 |
 |
User Comments (0)
RSS Feeds