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Old 23.06.2012, 16:34
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Swiss bankers drop holiday plans on fear of arrest

I sure am glad I never picked banking as a career here!

http://mobile.reuters.com/article/id...20614?irpc=932

Swiss bankers drop holiday plans on fear of arrest

ZURICH/GENEVA (Reuters) - Browsing glossy brochures in search of an exotic and relaxing summer holiday is the norm for Swiss private bankers at this time of year.

But many will be going no further than the Alps, fretting that Switzerland's tax disputes with the United States and other nations could leave them open to arrest and extradition if they leave the country and are suspected of aiding tax cheats.

Even secretaries working on U.S. accounts at the banks are reckoned to be at risk, while one banker rang an advice hotline because he was worried about nipping over the French border to buy groceries.

All this comes as Switzerland negotiates to get U.S. probes against 11 banks dropped in return for payment of fines and the transfer of names of thousands of U.S. clients. It also wants a deal to shield the rest of its 300 or so banks from prosecution.

More in the provided link above.

( Mod note: Policy is found here ).

Last edited by jrspet; 23.06.2012 at 16:39. Reason: Removed paragraphs as per forum policy to avoid issues with copyright
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Old 23.06.2012, 16:45
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Re: Swiss bankers drop holiday plans on fear of arrest

Old news if you're already in a bank. What makes me laugh is the guy who thinks a small family car is a disguise.

When Ghengis Khan was buried, after those trusted to bury him were executed and the mercenaries trusted to guard them - and later execute them - were themselves executed, along with all the animals, there was only a grieving camel left.

Mercenaries beware.
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Old 23.06.2012, 19:41
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Re: Swiss bankers drop holiday plans on fear of arrest

It is darn funny to read such "big foot" and " loch ness monster" urban myths....

I still drive my Ferraris and Lamborghinis over the border, doing my shopping and speed runs in Black Forrest. No one has arrested me so far....
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Old 23.06.2012, 22:44
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Re: Swiss bankers drop holiday plans on fear of arrest

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I sure am glad I never picked banking as a career here!

http://mobile.reuters.com/article/id...20614?irpc=932

Swiss bankers drop holiday plans on fear of arrest

ZURICH/GENEVA (Reuters) - Browsing glossy brochures in search of an exotic and relaxing summer holiday is the norm for Swiss private bankers at this time of year.

But many will be going no further than the Alps, fretting that Switzerland's tax disputes with the United States and other nations could leave them open to arrest and extradition if they leave the country and are suspected of aiding tax cheats.

Even secretaries working on U.S. accounts at the banks are reckoned to be at risk, while one banker rang an advice hotline because he was worried about nipping over the French border to buy groceries.

All this comes as Switzerland negotiates to get U.S. probes against 11 banks dropped in return for payment of fines and the transfer of names of thousands of U.S. clients. It also wants a deal to shield the rest of its 300 or so banks from prosecution.

More in the provided link above.

( Mod note: Policy is found here ).
Not really new. Already in 2010 or 11, some major Swiss banks (UBS CS ) gave a general advice to all their employees "with signature" to abstain from travelling to the USA

But the story about countries in Africa and Asia to want to arrest Swiss bankers is rubbish, and to write that Swiss bankers do not travel abroad is absolute nonsense

Sure, negotiations in regard to tax-matters etc continue. However, the USA has a big advantage over most other countries in regard to Switzerland, and this is that Switzerland has virtually the same constitution as the USA (only the top executive government is really different) . If the "union" framework gets settled, US States can contact Swiss Cantons directly.
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