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].