Does switzerland s bank client confidentiallity act still support finance crime
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Does Switzerland’s bank-client confidentiallity act still support finance crime? PowerPoint PPT Presentation


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Does Switzerland’s bank-client confidentiallity act still support finance crime?. Project presentation by Emanuel Flury CLS-Tutor: Coral Streader Supervisor: Alan Yates 20.06.2012. ( Jaumann , 2010). History. U nited identity Wilhelm Tell 1 . August 1291 Geography Mentality.

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Does Switzerland’s bank-client confidentiallity act still support finance crime?

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Does switzerland s bank client confidentiallity act still support finance crime

Does Switzerland’s bank-client confidentiallity act still support finance crime?

Project presentation by Emanuel Flury

CLS-Tutor: Coral Streader

Supervisor: Alan Yates

20.06.2012

(Jaumann, 2010)


History

History

  • United identity

  • Wilhelm Tell

    • 1. August 1291

  • Geography

  • Mentality

(Tell, 2011)


Second world war

Second World War

  • Swiss Federal Banking Act of 8 November 1934

    • Pressure from neighboursstates

    • Banking Secrecy → Bank-client confidentiality

    • Swiss Banking Association supervises banks


Anti money laudering act

Anti-Money Laudering Act

  • 1992

  • Positive effect on anti-money laundering

  • Strong act


Oecd trancsparency regulation

OECD Trancsparency Regulation

  • Supervising

  • End of bank-client confidentiality

  • No automatic account data submitting

  • Organisationfor Economic Co-operation and Development (OECD, 2010)


Witholding tax agreement

Witholding Tax Agreement

  • Rubik

    • 35% of interests

    • UK, Austria and Germany

    • Start: 01/01/2013


Problems just moved away

Problems just moved away

  • Singapore

    • English language

    • Location

    • Infrastructure

    • stable economy

    • «co-operative» tax authority

(Ohio, 2012)


Conclusion

Conclusion

  • Main findings

    • Anti-Money Laudering Act

    • OECD Trancsparency Regulation

    • Problems just moved away

  • Answer-Question: No

  • Switzerland lost its attraction for criminals

  • More changes in the near future expected


References

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].


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