With the recent revelation of more than 2,400 leaked documents from the Swiss bank UBS, this blog explores the issue of banking secrecy through the lens of the Swedish whistleblower.
It’s time to get those Swiss bank documents and look into if our money is safe in the hands of a bank that doesn’t know how to pay our bills.
You can check out our blog to see more about the scandal at Swiss bank UBS here.
What is Swiss bank secrecy? Well, it is the act of not telling the public about your bank accounts, or your transactions, or your other transactions. While the banks have to keep their documents private, the law allows the Swiss government and banks to keep this information secret. Switzerland has been a place where banking secrecy has been very common, and the Swiss government has been very secretive about their dealings with the banks.
Swiss bank secrecy is a complicated topic, so here is a bit of history. In the 1920s, a group of bankers, led by Emil Rothschild, formed Switzerland’s first bank, UBS. Later in the year, the bank moved its headquarters from Zurich to Switzerland’s capital of Bern, and by the early 1930s, UBS began to outsource many of its functions.
That’s when the Swiss State Police began investigating UBS.
While Switzerland is a rather small country, it is one of the most politically and economically advanced countries in the world. This gives the Swiss State Police a lot of clout and means that they control a lot of the banking industry. Since, in this period, it was illegal to create a bank in Switzerland without a license, the Swiss State Police were able to do their job.
The Swiss State Police are usually pretty good at their job, which explains why this recent investigation is going so well. UBS is currently the subject of an investigation for its alleged involvement with money laundering and drug trafficking. While there’s no proof that UBS is involved in any of these crimes, they are still under investigation. It’s also possible that the Swiss State Police are simply trying to establish a record for themselves.
While this investigation is ongoing, it seems like they are at the top of their game. UBS is one of the biggest banks in the world, and also one of the biggest banks that is very active in the Swiss banking industry. It’s a big market, but the Swiss State Police are doing very well. They’re also investigating a number of other banks for their involvement in money laundering and drug trafficking.
Although the Swiss State Police are one of the biggest banks in the world, they do not operate in secrecy. In fact, their website states they are a non-profit organization. Instead, they operate in the world of banking. They do not operate in secrecy, and they are very active in the industry. The Swiss State Police operate under the umbrella of the Swiss Federal Office of Criminal Investigation and operate under the authority of the Swiss Federal Office of Criminal Investigation.