The myths are as well-known as the Swiss bank accounts they surround, but Urs P Roth blows away the cobwebs and clarifies what Swiss banking laws really entail
In the days following the 11 September terrorist attacks in the US, the international media was quick to carry comments alleging terrorists were sure to hide their funds in places like Switzerland where bank customers enjoy a high degree of confidentiality. Ministers in certain EU countries, with an eye on political point-scoring, have subsequently been claiming Swiss banking confidentiality hampers the fight against the financing of terrorism. In the case of Switzerland, both claims are pure fantasy. Terrorist-linked money has been found and frozen all over the world, including in Swit...
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