Swiss Banks | featured news

Spain's governing Popular Party announced Saturday that it will investigate the financial activities of a former treasurer whom a court said had amassed an unexplained €22 million ($29 million) in Swiss bank accounts.

For decades, Switzerland was the place where money went to hide. Cash sent to its mountain aeries was protected by some of the strictest secrecy laws in the world.

A former Swiss banker on Monday supplied documents to WikiLeaks that he alleges detail attempts by wealthy business leaders and lawmakers to evade tax payments.

The Swiss postal system stripped WikiLeaks founder Julian Assange of a key fundraising tool Monday, accusing him of lying and immediately shutting down one of his bank accounts.

A man held in connection with client data stolen from a bank and sold to German tax authorities has been found dead in prison, Swiss authorities said on Friday.

The former chief executive of American International Group Inc, Maurice "Hank" Greenberg, reached a deal to sell most of the shares he holds in the insurer to a unit of Swiss bank UBS.

The Internal Revenue Service on Tuesday disclosed the criteria being used by the Swiss banking giant UBS to select names of American clients that will be turned over to the agency as part of a settlement of a tax evasion case.

Swiss bank UBS AG warned U.S. customers by registered mail their account details may be given to U.S. tax authorities, a method that could itself breach secrecy laws, a Swiss paper said on Sunday.

Faced with a Thursday midnight deadline to avoid possible prosecution, more than 7,500 Americans have come clean about secret foreign bank accounts, a senior IRS official said in an interview for broadcast tonight on "ABC World News with Charles Gibson."

OECD confirms the country will go off their grey list following the signing of a 12th agreement on Thursday.