Switzerland’s finance minister has accused US authorities of “shock” tactics to compel holders of undeclared UBS accounts to come forward, but warned that court action to discover the names of thousands of clients would not succeed.
Hans-Rudolf Merz, finance minister and Switzerland’s head of state this year under its rotating presidency, defended the Swiss government’s role in prompting the world’s biggest wealth manager to breach hallowed bank secrecy and last week reveal some 250-300 client names to the US. More...
See also:
- UBS refuses to reveal info about 52,000 US secret accounts...
- 7 myths about opening a Swiss bank account...
- UBS, under American pressure, is closing secret accounts...
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