Swiss Bank Secrecy Under Renewed Attack

Stanislav_J writes "All you wealthy Slashdotters better start making alternate arrangements for stashing your millions. Switzerland's storied role as discreet banker to the world's tax-avoiding wealthy is under threat like never before, and this time the country ultimately may not be able to stop the rest of the world from prying into those legendary 'secret' accounts, said to contain between $1 trillion and $2 trillion. A massive German tax-evasion scandal is putting pressure on the Swiss to cooperate, and the rest of Europe is also hardening their resolve to force change upon them. Per the article, 'The official Swiss reaction has been self-conscious detachment, which they hope will deflate the issue,' but even their own citizens are not too concerned about those outside their borders: 80% of Swiss support the banking confidentiality law, but that number drops into the 40s when it is applied to foreigners. Pressure is also coming from US pols — not the 'let's pry into everyone's business' Republicans, but the 'make the rich pay their fair share' Democrats, including Illinois Senator (and presidential candidate) Barack Obama."

No worries

[Anonymous Coward]

I've stashed my millions in virtual banks and real estate in Second Life. There's no way that can turn out badly.

heh.

[apodyopsis]

All you wealthy Slashdotters better

heh. you must be new here....

Re:Reality mirroring Science Fiction

[Faylone]

A war against Switzerland?! That's crazy! They can do ANYTHING with just their pocketknives!

Re:Secrecy is fine when it protects individual rig

[Anonymous Coward]

...wrong when it enables someone to evade taxation like the rest of us. Striking a balance will be a difficult task.

Yes, this is very true. I mean (unless everything tv taught me is wrong) when it comes to the ol' "where to stash yer cash" dilemma, there's never an easy answer, and somebody always ends up unhappy. just look at the never-ending feud between Jed Clampett and Granny. Now, Granny had a much more sophisticated approach than most would give her credit for: her periodic insistence that Jed go to Mr. Drysdale's bank and withdraw all their bubblin'-crude-turned-to-cash-money riches would have allowed the Clampetts to avoid those damn revenuers, all without her ever having to go through the trouble of leaving her posh beverly hills shack and tote all those silver pieces (not any of that funny paper money) to Switzerland. I'd say that a cee-ment pond filled with silver pieces would offer plenty of untraceable, tax-free secrecy.

Re:Overblown, Switzerland will do fine

[UnicornRider]

From my experience as former junior executive of a Swiss (not: Lichtenstein) bank, things are as simple as that:
In consequence of an obsession with cleaning, Swiss have to launder everything within reach - including money.

I'm rich

[Hojima]

I'm completely in favor of hiding the identity of those who have money in Swiss accounts. I am now in the rich demographic since I just got an email informing me of an inheritance for 400K from a long lost Swiss cousin of mine. All I had to do was give them my social security number (they didn't tell me his name. Most likely to keep him anonymous).