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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

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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