Financial Transparency Coalition

An economic war has broken out between Switzerland and the rest of the world after the crackdown on Swiss banking secrecy, according to one of Geneva’s leading private bankers.

The Internal Revenue Services intensified hunt for tax evaders overseas has caused Switzerland's two biggest banks to say goodbye to its American customers.

By Robert Morgenthau - The U.S. Senate Committee for Homeland Security and Governmental Affairs is considering a bill that would require the states, when they allow someone to create a corporate entity, to obtain information about the true ownership of the corporation.

The official line is that the Justice Department won’t drop its case against Swiss banking giant UBS. But that’s not what The New York Times is reporting. My hope is that Justice will stick to its guns. But my gut tells me the Times will turn out to be right.