Switzerland named as capital of banking secrecy

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Switzerland has emerged as the global capital of banking secrecy in the latest Financial Secrecy Index (FSI), published this week.

Tax transparency and anti-corruption campaigners Tax Justice Newtwork, which compiled the list, found that: “Switzerland has delayed the implementation of automatic information exchange, and in 2017 lawmakers attempted to stop it altogether with countries they deemed ‘corrupt’.”

“As the FSI demonstrates, countries like Switzerland are fundamental to the flow of illicit financial funds, such as the proceeds of corruption

From Switzerland named as capital of banking secrecy.

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