Swiss Bank UBS Set To Totally Rat Out Customer Names.

SWITZERLAND-BANKING-UBS-FILES


Swiss banking has always been known as a fortress of secrecy.  Want to run guns to Cuba?  Just funnel your receipts to a Swiss bank.  Coke dealer?  Ask for the Coke Dealer Premium Account.  It was a tremendous little set-up.

Not anymore.

Although UBS, the flagship banking giant of Switzerland, is obviously not involved in any of the above activities, they do find themselves in a fair bit of trouble.  The tax men of the United States, the IRS, are accusing the bank of harboring the accounts of over 17, 000 people.  While sheltered in Switzerland, they’ve evaded taxes, so now the IRS is a little bit pissed at the bank.  Yesterday they slapped them with a tiny fine.

$780 million dollars.

UBS also has to release the names of some account holders so the IRS can pursue legal action.  This is a major step, because never has a Swiss bank released names.  This marks the end of an era in Swiss banking.

If you want to stash funds away now, you better buy a good piggy bank.  Not like the one I had when I was a kid.  First, it wasn’t even a pig.  It was a Bart Simpson figurine where you would put coins in Bart Simpson’s head.  But some of the coins didn’t even fit, so I couldn’t save, and thus exhausted my allowance every week.

At least that’s the story I’m sticking with.

  • AnnaKSimon

    Being a center for contemporary art and offering its visitors a wide variety of interesting museums, galleries and cultural events, Zürich is definitely a switzerland clothing good place to stick around in for a few days.

  • AnnaKSimon

    Being a center for contemporary art and offering its visitors a wide variety of interesting museums, galleries and cultural events, Zürich is definitely a switzerland clothing good place to stick around in for a few days.