Friday, 14 September, 2012
What 'grouped requests' mean for banking secrecy
It’s been a week of bad news for defenders of Swiss banking secrecy. On Tuesday, UBS Whistleblower Bradley Birkenfeld received a $100 million reward for telling authorities about the bank’s efforts to help U.S. clients hide their money. And on Wednesday, MPs gave up the fight to stop what are known as so-called “group requests”—that means it’ll be even easier for foreign tax authorities to get information on suspected tax evaders. WRS’s Jordan Davis has been watching the Federal Palace this week and WRS’s Dave Goodman asked him to explain what was new about grouped requests:
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