Swiss bank secrecy is established and guaranteed by Swiss law

Swiss banks are world-renowned for their secretive nature and protection of clients. Swiss banks generally have higher confidentiality than other banks, based on Swiss bank law, which regulates what information the banks can give out. In general, there is no way to trace the source of money placed on deposit with a Swiss bank; they do not routinely confirm whether a named person holds an account or not. Flag of Switzerland Template:Unverfied File links The following pages link to this file: Arsenal F.C. Aargau European Liberal Democrat and Reform Party Organization for Security and Co-operation in Europe Switzerland Alpine skiing at the 2002 Winter Olympics Cross-country skiing at the 2002 Winter Olympics Ski jumping... Flag of Switzerland Template:Unverfied File links The following pages link to this file: Arsenal F.C. Aargau European Liberal Democrat and Reform Party Organization for Security and Co-operation in Europe Switzerland Alpine skiing at the 2002 Winter Olympics Cross-country skiing at the 2002 Winter Olympics Ski jumping...

Due to international pressure, Switzerland in 2003 lowered the restrictions, and allowed international police information about suspected criminals. Swiss banks also have come under fire in recent times due to their actions towards Jewish account holders after the Second World War, and also due to the fact that money that Nazis plundered from defeated countries as well as prisoners were held in Swiss banks. 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ...

There are about 400 banks in Switzerland, ranging from the "Two Big Banks" down to small banks serving the needs of a single community or a few special clients. The Two Big Banks, namely UBS and Credit Suisse, have extensive branch networks both throughout Switzerland and in many international centers. Banks are licensed by the Swiss Federal Government through its Banking Commission, and may operate throughout the country. A number also have offices or other representation in foreign countries. UBS AG NYSE: UBS, (SWX: CH0012032030) (TYO: 8657) is a financial firm. ... The Credit Suisse Group is the second-largest financial services company in Switzerland, behind longtime rival UBS. It was founded in 1856 under the name Schweizerische Kreditanstalt (SKA, Swiss Credit Institution). ...

The Swiss banks have a long reputation for managing investment portfolios for their clients, and providing other services such as estate planning, wealth management, trust companies, etc., for individual customers.

Swiss Bank Secrecy

Swiss bankers are under obligation to keep any information about a client or a client's account strictly confidential. This bank secrecy is among the strictest in the world and stems from an age-old historical tradition. It is established in Swiss law. The banking act adds a special section (introduced in 1934, in order to protect accounts of Germans, especially German Jews, from Nazi confiscation) which makes it a criminal offense, with the possibility of an individual going to jail, for the bank or its employee or agent to improperly divulge any confidential information Look up Nazi in Wiktionary, the free dictionary. ...

The only exceptions to this rule concern serious crimes such as gun smuggling and drug trafficking.

Swiss law distinguishes between tax evasion and tax fraud. If any holdings are not declared to the taxation authorities, a natural or legal person commits tax evasion. Tax evasion is not considered an offence, but only a misdemeanour. It is assumed that failed declaration of one's assets is not sufficient evidence for criminal intent, as the chance of unintentional failure is too high. However, tax fraud is considered a criminal offence under Swiss law and prosecuted according to the Swiss Penal Code. A forged tax declaration, like the statement of significantly below-market valuation of real estate or the counterfeiting of bank statements, is such a criminal offence of tax fraud. This article contrasts tax evasion, tax avoidance, tax resistance and tax mitigation. ...

Under Swiss law, banks in general do not cooperate in proceedings of misdemeanours, but only of offences. A Swiss judge can only lift the banks obligation of secrecy if he is convinced by national or international authorities that there is sufficient evidence of a criminal offence.

Bank secrecy will be lifted for private matters such as inheritance or divorce. If you have kept your banking information strictly confidential there may be exeptions to this. It is up to plaintiffs to prove that the account exists if they wish the judge to pursue the case. In this respect, the numbered account provides the maximum degree of confidentiality.

Gold Key Customers

Top clients are able to achieve maximum confidentiality and protection through the use of a Gold Key. The arrival of a gold key customer in a Swiss bank always creates a flurry of activity. This gold key has had the logo removed to protect the owner from identification Gold Keys are made available to large top clients of Swiss Banks. ...