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S U B S C R I B E
Friday, 27 April, 2012
Zug secrecy breakdown could hit other cantonal banks
The cantonal bank of Zug is requiring all its foreign clients to allow the bank to transfer data abroad, according to the Blick newspaper. Officials at the bank declined to comment or confirm to WRS. WRS’s Alex Helmick speak with Paul Dembinski, director of the Geneva Finanical Observatory, who says smaller cantonal banks could follow suit, and Myret Zaki, vice-editor at Bilan magazine, who says the move by Zug is another step in the slow death of Swiss bank secrecy:
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