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Swiss Banks

U.S. Using New Tactic For Finding Suspected Swiss Bank Tax Cheats

Posted 12.28.2011 | Business

U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more comm...

Big Swiss Bank To Give Up Spot In Investment Banking's Top Ten

Posted 12.23.2011 | Business

UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the ...

U.S. Offers 11 Swiss Banks Deal To Avoid Criminal Prosecution On Tax Evasion

Posted 12.18.2011 | Business

ZURICH (Reuters) - U.S. officials are offering 11 Swiss banks, among them Credit Suisse , a deal that allows them to avoid criminal prosecution in exc...

Ex-UBS Banker Gets Five Years In Prison For Aiding U.S. Tax Evasion

Posted 11.18.2011 | Business

A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probation Friday fo...

Switzerland Adds Client Safety Net To U.S. Tax Evasion Agreement

Posted 11.16.2011 | Business

The Swiss cabinet approved on Wednesday an amendment to a tax agreement with the United States to ensure that bank clients are properly informed about...

Major Swiss Bank To Disclose Names Of U.S. Clients Suspected Of Tax Evasion

Posted 01.08.2012 | Business

Credit Suisse AG, Switzerland's second-largest bank, has begun notifying certain U.S. clients suspected of offshore tax evasion that it intends to tur...

Credit Suisse Announces Major Job Cuts

Posted 01.01.2012 | Business

Credit Suisse (CSGN.VX) will cut another 1,500 jobs and scale back its capital-guzzling investment banking business as it seeks to meet tough new regu...

Tax Evasion Campaign Yields Billions In Offshore Assets

Posted 12.25.2011 | Business

An international drive against offshore tax havens has reaped nearly 14 billion euros from would-be tax evaders, the Organization for Economic Coopera...

Swiss May Give U.S. Access To Bank Client Data In Tax Evasion Disputes

Posted 12.18.2011 | Business

A Swiss parliamentary commission is edging toward accepting a government proposal that would allow the transfer of bank clients' data to the United St...

Swiss Banks Summoned To Hearing On Tax Evasion

Posted 12.16.2011 | Business

ZURICH - Swiss banks accused of helping Americans to dodge taxes have been summoned to a parliamentary committee hearing this week at which they will ...

Rogue Trader Fallout: UBS Starts Internal Probe Into $2.3 Billion Loss

Posted 11.19.2011 | Business

ZURICH (Reuters) - UBS kicked off an internal investigation into the catastrophic failure of its risk systems after rogue equity trades cost the Swiss...

Credit Suisse Is 'Target' Of Inquiry

wsj.com | DEBORAH BALL, | Posted 09.16.2011 | Business

U.S. prosecutors are ratcheting up the pressure on Credit Suisse Group AG as part of an escalating tax-evasion probe....

Switzerland Freezes Syrian Assets

Reuters | Posted 09.02.2011 | World

ZURICH, July 3 (Reuters) - Switzerland has blocked Syrian assets worth 27 million Swiss francs ($32 million), Swiss news agency SDA reported on Sunday...

IRS Drastically Increases Its Audits Of America's Richest Taxpayers

The Huffington Post | Maxwell Strachan | Posted 05.27.2011 | Business

In 2009, the Internal Revenue Service announced plans to unleash a new enforcement unit called the Global High Wealth Industry, the goal being to bett...

U.S. Banks Oppose Stricter Money Rules

Wall Street Journal | DEBORAH BALL AND CASSELL BRYAN-LOW | Posted 05.25.2011 | Business

Even as governments freeze assets tied to regimes in Libya, Egypt and Tunisia, U.S. banks are resisting efforts to tighten international rules to prev...

Swiss Tax Whistleblower Hands Over Data To WikiLeaks

Posted 05.25.2011 | Business

LONDON, Jan 17: A former Swiss private banker handed over data on hundreds of offshore bank account holders to WikiLeaks founder Julian Assange at a n...

'We Will Not Rest:' UBS Launches Ad Makeover After Tax Evasion Scandal

nytimes.com | Julia Werdigier | Posted 05.25.2011 | Business

UBS, the Swiss bank, is relying on the former astronaut Neil Armstrong, star architect Zaha Hadid and fast cars to help it win back customers. In a n...

Swiss Journalist Says UBS Responsible for Fall of Swiss Banking Secrecy

Iris Mack | Posted 05.25.2011 | Business
Iris Mack

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 ...

UBS Claw Back: Bank Takes Back $282M In Bonuses After 2009 Loss

bloomberg.com | Elena Logutenkova | Posted 05.25.2011 | Business

Feb. 10 (Bloomberg) -- UBS AG's loss in 2009 will trigger the bank’s bonus claw back mechanism for the first time, depriving senior bankers of 300 m...

Rudolph Elmer: Julius Baer Whistleblower Speaks Out On Swiss Banks And Offshore Tax Havens

nytimes.com | LYNNLEY BROWNING | Posted 05.25.2011 | Business

[Rudolph] Elmer, who ran the Caribbean operations of the Swiss bank Julius Baer for eight years until he was dismissed in 2002, moved to Mauritius in ...

UBS Bank Accounts: More Than 7,500 Americans Come Forward About Secret Foreign Accounts

Anna Schecter and Brian Ross | Posted 05.25.2011 | Business

Faced with a Thursday midnight deadline to avoid possible prosecution, more than 7,500 Americans have come clean about secret foreign bank accounts, a...

The Financial Crisis And The Super-Rich: How They're Coping

Der Spiegel | Beat Balzli | Posted 05.25.2011 | Business

When he speaks, Heinrich Weber sounds like a psychotherapist. But his profession involves addressing the worries of people who might normally be consi...

Hong Kong Is New Target of U.S. Crackdown On Global Tax Evasion

bloomberg.com | David Voreacos, Carlyn Kolker and Alan Katz | Posted 05.25.2011 | World

Hong Kong is a new target of U.S. prosecutors pursuing a global campaign against evaders of federal taxes, spurred by data acquired in their crackdown...

Dirty Money Flees Swiss Banks for Singapore

Diane Francis | Posted 05.25.2011 | World
Diane Francis

UBS will hand over information on the accounts of 4,450 wealthy Americans, the bank has announed. But this should be just the beginning and the next big target should be Singapore.

150 U.S.-Based UBS Clients To Be Charged With Tax Evasion

Reuters | Tom Brown | Posted 05.25.2011 | Business

MIAMI (Reuters) - The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax ...