Two More Swiss Banks Promise To Stop Swiss Banking

Shed a tear for the tax evasion enthusiasts.
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Still something for the Swiss to root for.

On a related note, if you’ve been tax-evading with Banque Pasche or Arvest Privatbank, expect a call from the IRS and/or FBI.

The DOJ said both banks provided “detailed information” about foreign customer accounts and how the banks helped them conceal assets to avoid paying U.S. taxes. “As required under the program, these banks will continue to cooperate as we aggressively pursue those individuals and the professionals who facilitated their criminal conduct,” the DOJ said.

Two Swiss Banks Settle With U.S. Justice Department [WSJ Risk & Compliance Journal blog]

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Carl Levin is Seriously Pissed at the Swiss

Senator Carl “Shitty Deal” Levin has blasted the Swiss government withholding the names of withholding the names of certain UBS clients suspected of opening Swiss bank accounts to evade U.S. taxes. The Swiss lower house voted today to reject a U.S.-Swiss treaty that would have turned over about 4.450 out of the 52,000 UBS clients the Uncle Sam suspects of tax evasion.