Treaty Conveys Little Power to Break Swiss Bank Secrecy

July 8th, 2009

The Washington Post

A new treaty touted as helping U.S. law enforcement crack Swiss bank secrecy may do little to help authorities achieve a prime objective: exposing tax evaders.

The U.S. government has been fighting a legal battle to obtain the names of thousands of Americans thought to have used accounts at Switzerland’s largest bank to hide money from the Internal Revenue Service, and Switzerland has been trying to defuse the U.S. effort.

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