Switzerland – Bank secrecy deteriorating

Switzerland said it will make it easier for foreign governments to hunt for tax cheats with Swiss bank accounts, amid continuing criticism that it still does too little to assist international tax authorities, even after years of pressure to ease bank secrecy.

The Swiss Finance Ministry said Tuesday that Switzerland will provide information on holders of bank accounts if foreign tax authorities provide just the bank account number or other information, such as a Social Security number or credit-card details.

Until now, the Swiss demanded full bank account details, as well as the name and address of the individual. Also remember that Switzerland accepts foreign countries court decisions.

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