Financial Transparency Coalition

Propublica—Last week, the government announced the terms of its deal with UBS to settle a case that could have thrown the Swiss bank into bankruptcy. At issue was whether UBS would – or could – hand over the names of tens of thousands of American citizens believed to have used their UBS accounts to hide assets and dodge paying taxes. The amounts are said to add up to billions – not chump change in a country facing historic budget deficits.

As governments hunt for tax evaders and financial fraudsters, a veil of secrecy is lifting

Two-and-a-half years after the death of General Augusto Pinochet, a report by the Chilean police task force charged with investigating money-laundering has claimed that British authorities and the financial sector were complicit in hiding his massive ill-gotten fortune.

ZURICH (Reuters) - Clients of UBS facing disclosure of their accounts to U.S. tax authorities were not harmless victims and legal cases against former UBS bankers did not affect the bank, its chairman told Swiss Sunday newspapers.