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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: bank secrecy

bank secrecy stories: 5 news summaries

(Newser) - The IRS and Justice Department crackdown on UBS is widening, reports the Wall Street Journal, as new documents reveal the efforts the bank took to keep its clients' wealth away from the taxman. Two recent cases have relied on channeling millions to a Swiss account owned by a Hong Kong-based... More »

MORE ABOUT:
IRS • Hong Kong • UBS • tax evasion • corporations • tax fraud • Swiss bank • bank secrecy

Tax Cheats Flood IRS,
Looking to Come Clean

Inquiry into Swiss banks leads hundreds of evaders to come clean

Jul 30, 09 9:07 AM CDT
(Newser) - A crackdown on tax evasion has led to a flood of wealthy Americans lining up to reveal their offshore accounts to the IRS, reports the Wall Street Journal. A limited-time offer of lower fines, coupled with the ongoing probe of Swiss bank accounts held by UBS, has produced a stampede... More »

MORE ABOUT:
IRS • UBS • tax evasion • clemency • Internal Revenue Service • Swiss bank • bank secrecy

(Newser) - Frank Ahearn just may be the world's top expert on vanishing without a trace—either finding people who have done so or helping others pull off the trick. In a profile of him and his craft, the Times of London notes that the California man has gotten so many inquiries... More »

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Internet • privacy • mob • debt • disappearance • Monica Lewinsky • John Darwin • Anne Darwin • domestic abuse • bank secrecy • witness protection


 UBS Closes 19,000 US 
 Accounts in IRS Probe 

Swiss banking secrecy collapses as investors face tax evasion charges

Jan 9, 09 6:51 AM CST
(Newser) - Under pressure from the IRS, Swiss banking giant UBS is closing the offshore accounts of about 19,000 Americans suspected of evading taxes. UBS will transfer the clients' assets to other banks, other divisions of UBS, or the account holders themselves—creating a paper trail that the feds can examine.... More »

MORE ABOUT:
IRS • Switzerland • UBS • tax evasion • money laundering • Swiss bank • bank secrecy

Fraud Case Breaches Venerable Swiss Secrecy

Nation's tradition of bank secrecy imperiled by UBS investigation

Oct 1, 08 10:50 AM CDT
(Newser) - Swiss authorities are cooperating with an American investigation into a tax fraud scandal, dealing a major blow to the nation's tradition of banking secrecy. Swiss bank UBS is alleged to have helped up to 20,000 American clients evade taxes by stashing their fortunes—collectively worth $20 billion—in undeclared... More »

MORE ABOUT:
Department of Justice • Switzerland • UBS • tax evasion • tax fraud • bank scandal • Swiss bank • bank secrecy

5 Stories


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