Search results
Results From The WOW.Com Content Network
American courts convicted Wegelin & Co. of money-laundering and tax evasion, and accordingly the bank's correspondent account held by UBS AG in Connecticut was fined $16 million by the federal courts. The bank argued that it only had branches in Switzerland, not the United States, and was, therefore subject only to Swiss law.
The Swiss National Bank (SNB) serves as the country's central bank. Founded by the Federal Act on the Swiss National Bank (16 January 1906), it began conducting business on 20 June 1907. Its shares are publicly traded, and are held by the cantons, cantonal banks, and individual investors; the federal government does not hold any shares. [82]
Numbered bank accounts are bank accounts wherein the identity of the holder is replaced with a multi-digit number known only to the client and selected private bankers. [ 1 ] [ 2 ] Although these accounts do add another layer of banking secrecy , they are not completely anonymous as the name of the client is still recorded by the bank and is ...
The law, coupled with a stable Swiss currency and international neutrality, prompted large capital flight to private Swiss accounts. During the 1940s, numbered bank accounts were introduced creating an enduring principle of bank secrecy that continues to be considered one of the main aspects of private banking globally.
When opening a Swiss bank account, Americans have to file an FBAR form with the IRS that discloses the assets. Back when the "international man of mystery" concept of the Swiss bank account holder ...
Swiss American Historical Society – focuses on the involvement of the Swiss and their descendants in American life, aspects of Swiss American relations, and Swiss history. [18] Swiss Heritage Village & Museum – begun in 1985, it is currently the largest outdoor museum in northern Indiana. It is located in Berne, Indiana. [19]
In fiction, a gold key is a special token granting access to and control of a mythical or ultra-private or secret bank account or vault, such as a Swiss bank account. In reality, the key is often a code word and accounts are not completely anonymous. [1] A real "gold key" need not be made of or colored gold, or even a key.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!