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The account has become an easy target for Democrats, with Durbin pointing out billionaire Warren Buffet's expressed reason for never opening a Swiss bank account: "There are plenty of good banks ...
Swiss Leaks (or SwissLeaks) is a journalistic investigation, released in February 2015, of a giant tax evasion scheme allegedly operated with the knowledge and encouragement of the British multinational bank HSBC via its Swiss subsidiary, HSBC Private Bank (Suisse). [1]
In exchange for banking services, the Swiss government charges "a low, lump-sum option on the money they bank", after which Swiss tax authorities consider client tax burdens "settled". [161] After the Banking Law of 1934 was passed, Swiss bankers traveled across Europe to advertise the country's banking secrecy during World War II . [ 7 ]
Suisse Secrets was a February 2022 leak of details of more than CHF 100 billion (roughly US$108.5bn, €95.5bn or £80bn) held in nominee accounts linked to over 30,000 clients of Credit Suisse, [1] the largest ever leak from a major Swiss bank.
The law, coupled with a stable Swiss currency and international neutrality, prompted large capital flight to private Swiss accounts. During the 1940s, numbered bank accounts were introduced creating an enduring principle of bank secrecy that continues to be considered one of the main aspects of private banking globally.
Credit Suisse's Private Banking Switzerland will be part of its Swiss business from April 1 rather than of the newly created wealth management unit, the bank said in an internal memo on Monday ...
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Soon after the catchphrase became famous, a few Swiss bankers started answering their phone as "Hello, gnome speaking". A Swiss banker who moved to London was nicknamed the gnome of Notting Hill. [5] The phrase also gave name to the 1966 T. R. Fehrenbach book on the history and practices of Swiss private banking, The Gnomes of Zurich. [10]