Equities

Reuters reveals Swiss prosecutors seek widening of secrecy law to bankers abroad

Reuters reveals Swiss prosecutors seek widening of secrecy law to bankers abroad

Reuters exclusively reported that Swiss prosecutors are seeking a court ruling that would make it easier to convict whistleblowers for breaking the country’s bank secrecy law wherever they are in the world. The Swiss Banking Act requires employees of Swiss-regulated banks to keep client information confidential, but a number of staff have leaked account details to foreign authorities in the past decade as Western governments crack down on tax evasion.