Swiss banks to hand over staff names in U.S. tax row: report

[Eugene]

Source: Reuters

ZURICH | Sat Apr 14, 2012 6:55am EDT

(Reuters) - Switzerland will allow banks to hand over the names of any employees and other third parties who helped wealthy Americans evade taxes to U.S. prosecutors, a Swiss newspaper reported on Saturday.

Eleven Swiss banks including Credit Suisse (CSGN.VX) and Julius Baer (BAER.VX) are under investigation in the United Stated for aiding U.S. citizens suspected of dodging taxes.

In the latest attempt to end the long-running dispute, Switzerland's Federal Council has now authorized banks to hand over email traffic in connection with such clients to U.S. prosecutors, the Tages-Anzeiger newspaper reported.

This includes the names of employees and where applicable third parties, such as external wealth managers, lawyers and trustees, but not client data, the paper said.

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Read more: http://www.reuters.com/article/2012/04/14/us-swiss-tax-us-idUSBRE83D05H20120414

[thelordofhell]

1. Most popular email address.......you guessed it.......

[e-mail]

[jillan]

2. Wooo hoo.... this could get interesting.

[SleeplessinSoCal]

3. my thoughts exactly. Then again, the powerful and wealthy have their ways of evading duty.