Financial Transparency Coalition

UBS AG (UBS) should pay U.S. taxes on 52,000 secret accounts held by American citizens in Switzerland as part of a settlement to a high-profile legal case between the bank and U.S. tax authorities, according to Washington-based Global Financial Integrity.

For more than a year, the Internal Revenue Service, the feared tax-collecting agency of the US government, has been revving the engines and aiming a bulldozer at Switzerland's historic banking secrecy laws.

LONDON (Forbes) -- Swiss and other European banks are shunning American clients in the wake of the UBS tax evasion case.

ZURICH (Reuters) - Swiss bank UBS could transfer client data to the United States and end a damaging tax litigation without breaching Swiss bank secrecy laws, a top Swiss judge told Reuters on Tuesday.