Official: Proposal in Swiss Banking Dispute Doesn’t Threaten Secrecy

August 4th, 2009

The Washington Post

The proposed resolution to a U.S. government demand for information about thousands of Americans suspected of using Swiss accounts to evade taxes would leave Swiss bank secrecy intact, a top Swiss official has said.

Over intense opposition from Switzerland, the United States has been seeking the names of thousands of Americans who hold secret accounts at UBS, Switzerland’s largest bank. The Justice Department said Friday it had reached “an agreement in principle” to end the dispute, but it has not disclosed the terms of the deal.

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