FISHING EXPEDITIONS NOT WELCOME, SWISS BANKS SAY
”Indiscriminate” requests for confidential records will not be supported by Swiss banks, even once new OECD rules come into play, according to a leading figure in the Swiss banking industry. In a bid to calm HNWI’s worried over bank secrecy, SBA (Swiss Bankers Association) head Urs Roth reiterated that bank account details are still potected by thesecrecy law, as long as clients have not committed fraud. Switzerland would provide account information only on receiving ”justified requests” concerning individual cases, Roth said.
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