101.7 FM IN GENEVA DAB+, CABLE & SATELLITE ACROSS SWITZERLAND
LISTEN ONLINE 
P O P U L A R
- alcohol
- army knives
- banks
- Basel
- Bern
- cannabis
- CH votes
- cheese
- children
- chocolate
- consumers
- crime
- cycling
- easyJet
- environment
- EU
- expats
- gay
- Geneva
- health insurance
- hiking
- jura
- language
- lausanne
- Olympics
- Polanski
- real estate
- skiing
- smoking
- Swiss franc (CHF)
- swiss watches
- tax
- tax.
- tax. banks
- ticino
- tourism
- trains
- wine
- workplace
- zurich
S U B S C R I B E
WRS stories about banks
UBS whistleblower battles prison for early release to halfway house
Wednesday, 28 March, 2012
The UBS whistleblower Bradley Birkenfeld is engaged in a legal battle with the U.S. prison service over his release from detention. Birkenfeld is representing himself in a case he’s brought against a decision by the prison to deny him access to a halfway house up to 12 months before his scheduled release date. The government is trying to prevent the case from coming to court. From Washington, reporter Daniel Ryntjes has this exclusive story.
Wednesday, 28 March, 2012
The UBS whistleblower Bradley Birkenfeld is engaged in a legal battle with the U.S. prison service over his release from detention. Birkenfeld is representing himself in a case he’s brought against a decision by the prison to deny him access to a halfway house up to 12 months before his scheduled release date. The government is trying to prevent the case from coming to court. From Washington, reporter Daniel Ryntjes has this exclusive story.
If banks colluded on Libor rate, amounts 'are staggering'
Tuesday, 27 March, 2012
Can it be proved that 18 banks, including UBS and Credit Suisse, colluded to keep the Libor interbank rate artificially low? A headline in newspaper Le Temps already called it, “The Biggest Financial Scandal in History.” An investigation is underway in different countries including Switzerland, but experts already say banks may have derived massive benefits from such a manipulation while affecting a great number of clients and other investors. To figure out what is at play, WRS’s Pete Forster talks to lawyer and banking law expert Carlo Lombardini:
Tuesday, 27 March, 2012
Can it be proved that 18 banks, including UBS and Credit Suisse, colluded to keep the Libor interbank rate artificially low? A headline in newspaper Le Temps already called it, “The Biggest Financial Scandal in History.” An investigation is underway in different countries including Switzerland, but experts already say banks may have derived massive benefits from such a manipulation while affecting a great number of clients and other investors. To figure out what is at play, WRS’s Pete Forster talks to lawyer and banking law expert Carlo Lombardini:
Bern set to approve U.S. tax accord after delays, debates
Monday, 5 March, 2012
The National Council today is expected to approve the latest changes to the double tax accord with the United States. Heated debate ran so long last week that lawmakers ran out of time. It’s a text that would allow U.S. authorities greater latitude to get information on suspected tax cheats. Switzerland has said it wants to get rid of undeclared money. And double-tax accords are a central element of that so-called clean money strategy. But critics say that approach means people hiding money from developing countries have little to fear. WRS’s Jordan Davis reports:
Monday, 5 March, 2012
The National Council today is expected to approve the latest changes to the double tax accord with the United States. Heated debate ran so long last week that lawmakers ran out of time. It’s a text that would allow U.S. authorities greater latitude to get information on suspected tax cheats. Switzerland has said it wants to get rid of undeclared money. And double-tax accords are a central element of that so-called clean money strategy. But critics say that approach means people hiding money from developing countries have little to fear. WRS’s Jordan Davis reports:
Rewind: Breaking the taboo on banking secrecy
Friday, 2 March, 2012
The head of the Raiffeisen bank breaks a taboo in calling for automatic information exchange in the same week as Parliament debates giving the U.S. more latitude to find tax cheats. But many fear Parliament will debate even more concessions soon. WRS’s Jordan Davis reviews the news of the week with RSI’s Paola Ceresetti and DRS’s Pascal Krauthammer:
Friday, 2 March, 2012
The head of the Raiffeisen bank breaks a taboo in calling for automatic information exchange in the same week as Parliament debates giving the U.S. more latitude to find tax cheats. But many fear Parliament will debate even more concessions soon. WRS’s Jordan Davis reviews the news of the week with RSI’s Paola Ceresetti and DRS’s Pascal Krauthammer:
Bern on brink of passing tax accord with U.S.
Wednesday, 29 February, 2012
Today the double tax accord between Switzerland and the United States is before members of Parliament in the National Council. The government says it’s a key element to resolving the banking crisis with the United States. The accord’s been held up in Bern for months. Many fear it will open a new breach in banking secrecy. But now it appears to be on the verge of passage. WRS’s Jordan Davis is live in the Federal Palace:
Wednesday, 29 February, 2012
Today the double tax accord between Switzerland and the United States is before members of Parliament in the National Council. The government says it’s a key element to resolving the banking crisis with the United States. The accord’s been held up in Bern for months. Many fear it will open a new breach in banking secrecy. But now it appears to be on the verge of passage. WRS’s Jordan Davis is live in the Federal Palace:
Bank chief ruffles Swiss finance feathers
Wednesday, 29 February, 2012
Parliament is due to vote today on an accord making it easier for the U.S. authorities to get information on American tax cheats with Swiss bank accounts. The topic has generated acres of newsprint. In an interview with the Tages Anzeiger newspaper on Tuesday, Pierin Vincenz , chief executive of Raiffeisen, Switzerland’s third biggest bank, raised concerns about the country’s strategy of dealing with this issue globally. He’s ruffled a few feathers, as WRS’s Vincent Landon reports:
Wednesday, 29 February, 2012
Parliament is due to vote today on an accord making it easier for the U.S. authorities to get information on American tax cheats with Swiss bank accounts. The topic has generated acres of newsprint. In an interview with the Tages Anzeiger newspaper on Tuesday, Pierin Vincenz , chief executive of Raiffeisen, Switzerland’s third biggest bank, raised concerns about the country’s strategy of dealing with this issue globally. He’s ruffled a few feathers, as WRS’s Vincent Landon reports:
Bankers say tax compliance ultimately falls on client's shoulders
Thursday, 23 February, 2012
The Federal Council says it wants banks to take a closer look at whether their clients are paying taxes. This is the next step in a clean money strategy unveiled by finance minister Eveline Widmer Schlumpf yesterday. While a full report will not come out until September, the government wants banks to employ more due diligence in checking that clients have declared their taxes. WRS’s political correspondent Jordan Davis spoke to Sindy Schmiegel, spokesperson for the Swiss Bankers Association, who says tax compliance is the ultimately the responsibility of each client:
Thursday, 23 February, 2012
The Federal Council says it wants banks to take a closer look at whether their clients are paying taxes. This is the next step in a clean money strategy unveiled by finance minister Eveline Widmer Schlumpf yesterday. While a full report will not come out until September, the government wants banks to employ more due diligence in checking that clients have declared their taxes. WRS’s political correspondent Jordan Davis spoke to Sindy Schmiegel, spokesperson for the Swiss Bankers Association, who says tax compliance is the ultimately the responsibility of each client:
Tax deal said to be close for Credit Suisse and U.S.
Friday, 17 February, 2012
Credit Suisse is close to announcing a deal over tax evasion with the U.S. government, according to a leading international tax attorney. Kevin Thorn, a legal advisor to Swiss banks over compliance issues, says the two sides may be close to going public on an arrangement similar to the one with UBS. WRS has previously reported that Credit Suisse has been denying U.S. clients access to their accounts unless they come clean to the U.S. Now we have also acquired a copy of a letter dated February 2, 2012 and written by the bank advising individuals once again to consider a voluntary disclosure to tax authorities. With more, here’s WRS’s Washington Correspondent Daniel Ryntjes:
Friday, 17 February, 2012
Credit Suisse is close to announcing a deal over tax evasion with the U.S. government, according to a leading international tax attorney. Kevin Thorn, a legal advisor to Swiss banks over compliance issues, says the two sides may be close to going public on an arrangement similar to the one with UBS. WRS has previously reported that Credit Suisse has been denying U.S. clients access to their accounts unless they come clean to the U.S. Now we have also acquired a copy of a letter dated February 2, 2012 and written by the bank advising individuals once again to consider a voluntary disclosure to tax authorities. With more, here’s WRS’s Washington Correspondent Daniel Ryntjes:
Will Wegelin bank turn up for its first court hearing?
Friday, 10 February, 2012
Tax experts in the United States say there’s clear evidence to suggest U.S. investigators have received insider knowledge of the workings of Wegelin private bank. The first court hearing is scheduled for later today, but it’s unclear if the bank will turn up. It’s widely assumed that much of the evidence gathered by prosecutors came from voluntary disclosures by Americans who decided to seek amnesty from prosecution. But experts say there’s also very specific information in the indictment which demonstrates detailed understanding of the inner workings of Switzerland’s oldest bank. U.S. attorneys are also examining money laundering allegations contained in a separate complaint for the seizure of assets contained in a U.S.-based correspondent account. From Washington Daniel Ryntjes reports:
Friday, 10 February, 2012
Tax experts in the United States say there’s clear evidence to suggest U.S. investigators have received insider knowledge of the workings of Wegelin private bank. The first court hearing is scheduled for later today, but it’s unclear if the bank will turn up. It’s widely assumed that much of the evidence gathered by prosecutors came from voluntary disclosures by Americans who decided to seek amnesty from prosecution. But experts say there’s also very specific information in the indictment which demonstrates detailed understanding of the inner workings of Switzerland’s oldest bank. U.S. attorneys are also examining money laundering allegations contained in a separate complaint for the seizure of assets contained in a U.S.-based correspondent account. From Washington Daniel Ryntjes reports:
'Not going to be easy' to find a solution after Wegelin indictment
Wednesday, 8 February, 2012
Since the indictment of the Wegelin private bank in the U.S., the federal government in Bern has been tight-lipped about its diplomatic efforts. It’s been reported that the chief negotiator Michael Ambühl has been dispatched to Washington to hasten ongoing negotiations on a global accord with the U.S. Eleven banks are reportedly under investigation by the Department of Justice and Bern hopes for a solution to regularize all U.S. accounts in Switzerland. WRS’s Jordan Davis caught up with the head of the Swiss-American Chamber of Commerce, Martin Naville. He asked Naville if he thought the Wegelin indictment was a message from the U.S.:
Wednesday, 8 February, 2012
Since the indictment of the Wegelin private bank in the U.S., the federal government in Bern has been tight-lipped about its diplomatic efforts. It’s been reported that the chief negotiator Michael Ambühl has been dispatched to Washington to hasten ongoing negotiations on a global accord with the U.S. Eleven banks are reportedly under investigation by the Department of Justice and Bern hopes for a solution to regularize all U.S. accounts in Switzerland. WRS’s Jordan Davis caught up with the head of the Swiss-American Chamber of Commerce, Martin Naville. He asked Naville if he thought the Wegelin indictment was a message from the U.S.:
American tax hunt fallout continues to grow
Monday, 6 February, 2012
First the United States went after alleged American tax cheats at Switzerland’s biggest bank, UBS, in 2008 and now Switzerland’s oldest bank, Wegelin. Eleven other Swiss banks are indictment and Wegelin’s new owner, Raiffeissen has already said it will dump all American clients, but the U.S. insists it’s not after Swiss banks, it’s after American tax evaders. WRS’s Alex Helmick speaks with U.S. Ambassador to Switzerland Donald Beyer for his take:
Monday, 6 February, 2012
First the United States went after alleged American tax cheats at Switzerland’s biggest bank, UBS, in 2008 and now Switzerland’s oldest bank, Wegelin. Eleven other Swiss banks are indictment and Wegelin’s new owner, Raiffeissen has already said it will dump all American clients, but the U.S. insists it’s not after Swiss banks, it’s after American tax evaders. WRS’s Alex Helmick speaks with U.S. Ambassador to Switzerland Donald Beyer for his take:
Bern may have 'clean money' strategy in wake of Wegelin indictment
Monday, 6 February, 2012
The indictment of the Wegelin bank in the United States has sent a shock wave not just through the Swiss banking world, but through the political world as well. Eleven banks are reportedly under investigation by U.S. authorities. Switzerland has been negotiating with the U.S. for an accord to resolve the ongoing dispute. And now the Federal Council is reportedly considering a beefed-up “clean money” strategy for Swiss banks. How far would that go? WRS’s Jordan Davis reports:
Monday, 6 February, 2012
The indictment of the Wegelin bank in the United States has sent a shock wave not just through the Swiss banking world, but through the political world as well. Eleven banks are reportedly under investigation by U.S. authorities. Switzerland has been negotiating with the U.S. for an accord to resolve the ongoing dispute. And now the Federal Council is reportedly considering a beefed-up “clean money” strategy for Swiss banks. How far would that go? WRS’s Jordan Davis reports:
After Wegelin bank's indictment, who's next?
Monday, 6 February, 2012
After Wegelin, who could be next? That’s the question many are asking after the American indictment of the St Gallen private bank. In all, Wegelin is one of 11 Swiss banks reportedly under investigation by authorities there for helping U.S. taxpayers hide their money. Bern has been in negotiations with Washington to try to find a deal. But some experts are warning if those talks drag on, other banks could find themselves under indictment. Washington correspondent Daniel Ryntjes talks to Washington D.C. tax attorney Scott Michel and WRS’s Dave Goodman talks to the secretary general of the Swiss Private Bankers Association, Michel Dérobert:
Monday, 6 February, 2012
After Wegelin, who could be next? That’s the question many are asking after the American indictment of the St Gallen private bank. In all, Wegelin is one of 11 Swiss banks reportedly under investigation by authorities there for helping U.S. taxpayers hide their money. Bern has been in negotiations with Washington to try to find a deal. But some experts are warning if those talks drag on, other banks could find themselves under indictment. Washington correspondent Daniel Ryntjes talks to Washington D.C. tax attorney Scott Michel and WRS’s Dave Goodman talks to the secretary general of the Swiss Private Bankers Association, Michel Dérobert:
Proposed money laundering law pokes another hole in banking secrecy
Friday, 20 January, 2012
This week the Federal Council released a draft version of a new law on money laundering, which would make it easier for foreign authorities to get access to banking information on suspected money launderers. And if a few years ago Swiss banking secrecy was untouchable, this latest announcement was met with shrugs. WRS’s Jordan Davis has been following it this week and we asked him why the law has come about at all:
Friday, 20 January, 2012
This week the Federal Council released a draft version of a new law on money laundering, which would make it easier for foreign authorities to get access to banking information on suspected money launderers. And if a few years ago Swiss banking secrecy was untouchable, this latest announcement was met with shrugs. WRS’s Jordan Davis has been following it this week and we asked him why the law has come about at all:
