Matches in DBpedia 2016-04 for { ?s ?p "The Federal Act on Banks and Savings Banks (colloquially known as the Banking Law of 1934) is the law that governs the regulation of banks in Switzerland. It created the current regime of bank secrecy that Swiss banks are famous for. Under the Banking Law of 1934, it is a criminal act for a bank to reveal the name of an account holder. The law helped establish Switzerland as the premier tax haven for foreigners, with Swiss banks accounting for approximately US$2.1 trillion in offshore assets, 27% of the world's total. Since then, Swiss banks have acquired worldwide celebrity due to their numbered bank accounts, which critics such as ATTAC NGO alleged only help legalized tax evasion, money laundering and more generally the underground economy.Under the Swiss principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities, except when requested by a Swiss judge's subpoena. However banking is not strictly anonymous since under its banking law all Swiss bank accounts, including numbered bank accounts, are linked to an identified individual. This law only permits a bank to share information with others in cases of severe criminal acts, such as identifying a terrorist's bank account or tax fraud, but not simple non-reporting of taxable income (called tax evasion in Switzerland). The international pressure on Switzerland forced it to amend the law and negotiate tax treaties with dozens of countries, including Germany, the United Kingdom and the United States. The treaties permit Swiss banks to release information about account holders."@en }
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- Federal_Act_on_Banks_and_Savings_Banks abstract "The Federal Act on Banks and Savings Banks (colloquially known as the Banking Law of 1934) is the law that governs the regulation of banks in Switzerland. It created the current regime of bank secrecy that Swiss banks are famous for. Under the Banking Law of 1934, it is a criminal act for a bank to reveal the name of an account holder. The law helped establish Switzerland as the premier tax haven for foreigners, with Swiss banks accounting for approximately US$2.1 trillion in offshore assets, 27% of the world's total. Since then, Swiss banks have acquired worldwide celebrity due to their numbered bank accounts, which critics such as ATTAC NGO alleged only help legalized tax evasion, money laundering and more generally the underground economy.Under the Swiss principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities, except when requested by a Swiss judge's subpoena. However banking is not strictly anonymous since under its banking law all Swiss bank accounts, including numbered bank accounts, are linked to an identified individual. This law only permits a bank to share information with others in cases of severe criminal acts, such as identifying a terrorist's bank account or tax fraud, but not simple non-reporting of taxable income (called tax evasion in Switzerland). The international pressure on Switzerland forced it to amend the law and negotiate tax treaties with dozens of countries, including Germany, the United Kingdom and the United States. The treaties permit Swiss banks to release information about account holders.".
- Q17002992 abstract "The Federal Act on Banks and Savings Banks (colloquially known as the Banking Law of 1934) is the law that governs the regulation of banks in Switzerland. It created the current regime of bank secrecy that Swiss banks are famous for. Under the Banking Law of 1934, it is a criminal act for a bank to reveal the name of an account holder. The law helped establish Switzerland as the premier tax haven for foreigners, with Swiss banks accounting for approximately US$2.1 trillion in offshore assets, 27% of the world's total. Since then, Swiss banks have acquired worldwide celebrity due to their numbered bank accounts, which critics such as ATTAC NGO alleged only help legalized tax evasion, money laundering and more generally the underground economy.Under the Swiss principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities, except when requested by a Swiss judge's subpoena. However banking is not strictly anonymous since under its banking law all Swiss bank accounts, including numbered bank accounts, are linked to an identified individual. This law only permits a bank to share information with others in cases of severe criminal acts, such as identifying a terrorist's bank account or tax fraud, but not simple non-reporting of taxable income (called tax evasion in Switzerland). The international pressure on Switzerland forced it to amend the law and negotiate tax treaties with dozens of countries, including Germany, the United Kingdom and the United States. The treaties permit Swiss banks to release information about account holders.".