Swiss ban anonymous bank accounts July 1st 2004!
http://washingtontimes.com/upi-break...0808-4255r.htm
June 30, 2004
Geneva, Switzerland, Jun. 30 (UPI) -- Beginning July 1, Swiss banks will no longer offer anonymous, numbered accounts in an effort to fight fraud and terrorist financing.
The emblematic anonymous numbered Swiss bank account has been part of the country's identity for over a century, but the country's latest anti-money laundering law, which goes into effect Thursday, will not allow customers to open accounts without revealing their identity, Swiss news agency Swissworld reports.
Although Switzerland will still offer accounts with some degree of privacy, patrons who seek to transfer money into the country will have to provide their names. Some accounts will still be identified by numbers rather than names, but bankers will have to know the identity of each of their clients.
The legal change, which may be followed by efforts to withhold taxes from the interest earnings of foreigners' Swiss accounts, is intended to combat tax evasion, terrorist funding and money laundering.
June 30, 2004
Geneva, Switzerland, Jun. 30 (UPI) -- Beginning July 1, Swiss banks will no longer offer anonymous, numbered accounts in an effort to fight fraud and terrorist financing.
The emblematic anonymous numbered Swiss bank account has been part of the country's identity for over a century, but the country's latest anti-money laundering law, which goes into effect Thursday, will not allow customers to open accounts without revealing their identity, Swiss news agency Swissworld reports.
Although Switzerland will still offer accounts with some degree of privacy, patrons who seek to transfer money into the country will have to provide their names. Some accounts will still be identified by numbers rather than names, but bankers will have to know the identity of each of their clients.
The legal change, which may be followed by efforts to withhold taxes from the interest earnings of foreigners' Swiss accounts, is intended to combat tax evasion, terrorist funding and money laundering.
If there is 1 place in the world where I would thrust my money to be stored it would be switzerland.
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