Decades Of Swiss Banking Secrecy Have Left Their Mark

Decades Of Swiss Banking Secrecy Have Left Their Mark by Samuel Jaberg, Bern, swissinfo.ch

Switzerland, along with around 100 other countries, will put an end to its treasured practice of banking secrecy when the treaty on automatic exchange of information between tax authorities comes into force in 2018.

The country is hoping that being proactive in the implementation of the new rules will both shield it from new attacks and enable it to help shape the laws into something it finds palatable.

But decades of shady banking practices and the country’s initial reluctance to end banking secrecy after the 2009 financial crisis have left their mark on the country’s reputation. It is not always easy to convince others of Switzerland’s...