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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]
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 ...
Bradley Charles Birkenfeld (born February 26, 1965) is an American private banker, Author of Lucifer's Banker, convicted felon, and whistleblower.During the mid- to late-2000s, he made a series of disclosures about UBS Group AG clients, in violation of Swiss banking secrecy laws, to the U.S. government alleging possible tax evasion.
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.
UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
CBI acquired TDB-American Express Bank in 1990, which led to the creation of the current entity, Union Bancaire Privée. UBP developed further with the takeover of the Discount Bank and Trust Company in 2002. [2] [3] In 2011, UBP acquired the Swiss arm of Dutch state-owned ABN Amro Bank, a pure Swiss private bank.
While just 2.1% of white households lacked a bank account in 2021, 11.3% of Black households, 9.3% of Hispanic households, and 6.9% of American Indian or Alaska native households lacked an account ...
The company was founded in Basel in the year 1920 as a private bank under the name of Ed. Greutert & Cie. [3] In 1940, the bank was renamed Sturzenegger & Cie. According to a lawsuit SOCIETE INTERNATIONALE, ETC. v. McGranery, 111 F. Supp. 435 (D.D.C. 1953) filed in the District Court, District of Columbia on February 19, 1953, E. Greutert & Cie and H. Sturzenegger & Cie were used to conceal ...