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 beach_pudding@feddit.de to c/europe@feddit.de

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[-] pizzaiolo@lemmy.world 5 points 1 year ago

Isn't that the whole point of Switzerland?

It's the world's worst-kept secret

[-] Jummit@lemmy.one 1 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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this post was submitted on 06 Jul 2023

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