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Swiss Journalist Says UBS Responsible for Fall of Swiss Banking Secrecy

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Over the past five months I've spent quite a bit of time in the United Kingdom, Switzerland and Austria. During my time in Zurich, Switzerland I had the opportunity to meet with Swiss journalist Lukas Hassig.

Recently Mr. Hassig contacted me about co-authoring an article on Swiss banking secrecy. Hopefully we will write this article in the near future.

Mr. Hassig states in an interview with swissinfo.ch - mobile news that Swiss bank UBS was mainly responsible for the fall of Swiss banking secrecy. This stems from a multi-million dollar tax accord with the United States government and the Swiss banks handing over client data to the U.S. government.

To learn more about Mr. Hassig, you can read his book - "Paradies Perdu: The End of Swiss Banking Secrecy". In it he describes the close ties between UBS and those in power in Switzerland.

At the moment Mr. Hassig's book is written in German. However, he provides a summary of his book in English.