UBS legal case jeopardises Swiss-US treaty on secret bank accounts

June 20th, 2009

The Times (of London)

Switzerland has signed a tentative agreement to share information with the United States about the billions of dollars that US citizens have stashed in secret Swiss bank accounts.

However, the agreement could fall apart if America’s Inland Revenue Service (IRS) continues to sue UBS, Switzerland’s biggest bank, for the names of 52,000 American customers with offshore bank accounts.

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