ZED - The End of Bank Secrecy (2014)
On 21st August 2009, the Swiss government handed over the names of 4,500 American tax evaders to the US Congress, ending the legendary principle of secrecy on which the country’s banks had built their reputation for almost a century. How did the United States manage to force Switzerland to comply? One of the world’s biggest tax havens, the country had until now remained unreceptive to demands for greater transparency from around the globe. Why did UBS – the global leader in private fortune management – decide to waive its clients’ anonymity?
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