Does Switzerland’s bank-client confidentiallity act still support

finance crime?Project presentation by Emanuel Flury

CLS-Tutor: Coral StreaderSupervisor: Alan Yates

20.06.2012

(Jaumann, 2010)

HistoryUnited identityWilhelm Tell

1. August 1291GeographyMentality

(Tell, 2011)

Second World WarSwiss Federal Banking

Act of 8 November 1934 Pressure from

neighbours statesBanking Secrecy → Bank-

client confidentialitySwiss Banking

Association supervises banks

Anti-Money Laudering Act1992Positive effect on anti-money launderingStrong act

OECD Trancsparency RegulationSupervisingEnd of bank-client

confidentialityNo automatic

account data submitting

Organisation for Economic Co-operation and Development (OECD, 2010)

Witholding Tax AgreementRubik

35% of interestsUK, Austria and GermanyStart: 01/01/2013

Problems just moved awaySingapore

English language

LocationInfrastructurestable

economy«co-

operative» tax authority

(Ohio, 2012)

ConclusionMain findings

Anti-Money Laudering ActOECD Trancsparency RegulationProblems just moved away

Answer-Question: NoSwitzerland lost its attraction for criminalsMore changes in the near future expected

References Tell, W. (2011). Legend of Wilhelm Tell the Swiss Hero. [Online]

Available at: http://www.tell.ch/schweiz/pic/tell-ch.jpg[Accessed 20 June 2012].

OECD, (2010). Headquarter in Paris. [Online] Available at: http://www.oecd.org/oecd/images/portal/cit_731/3/25/1863920image5607.jpg

[Accessed 20 June 2012].

Ohio, P. (2012). Where is Singapore located. [Online] Available at: http://www.indiana.edu/~ssa/images/singaporeloc.jpg

[Accessed 20 June 2012].

Jaumann, V. (2010). Tresor room. [Online] Available at: http://www.verlagshaus-jaumann.de/media/localNews/2927552.jpg

[Accessed 20 June 2012].