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Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years (www.cnbc.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] pizzaiolo 5 points 1 year ago (1 children)

Isn't that the whole point of Switzerland?

It's the world's worst-kept secret

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago)

I was thinking the same thing; isn't the Swiss bank rich because of this reason?

EDIT:

The Swiss Banking Law of 1934 made it criminal for Swiss banks to disclose the name of an account holder. Similar to the confidentiality protections between doctors and patients or lawyers and their clients, these protections are the primary reason that Swiss bank accounts are so popular with wealthy banking customers around the world.

Source: https://www.investopedia.com/ask/answers/08/swiss-bank-account.asp

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