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At last Swiss banks are forced to open up


NormanH

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UBS, a major Swiss bank has just been forced to divulge the names of 250 American  holders of secret accounts, and pay a fine of 600 million euros for having helped with tax evasion.

This is only the first round: Florida has sued of 20 billion for 52,000 undeclared accounts.

Possibly governments are looking for hidden millions to help pay for the bail-outs being given to the financial sector!

This is covered in an up to date report in Libération (in French)  and an older one in the International Herald tribune (in English).

About time that the focus of attention (and Media attack)  moved a little from the little person who has perhaps fiddled a few hundred from benefits, to these big boys who are hiding millions from the tax authorities.

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[quote user="NormanH"]

About time that the focus of attention (and Media attack)  moved a little from the little person who has perhaps fiddled a few hundred from benefits, to these big boys who are hiding millions from the tax authorities.
[/quote]

Little people Norman? A tad naive no?

http://www.dailymail.co.uk/news/article-1153053/50-000-benefit-cheat-couple-sailed-halfway-world-yacht-claimed-ill-bed.html

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Relative peanuts.

I believe each person  in Britain has just been saddled with a debt just a bit less than the amount these people  fiddled just to pay off Lloyd's HBOS..not to mention B&B and Northern Rock who are still going to pay out bonuses this year.

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