Telling Swiss Secrets: A Banker’s Betrayal

August 9th, 2010 § 1 comment

In this Global Post article, American whistle blower Bradley Birkenfeld exposes the secrets and scandals behind the legendary secrecy of Swiss banking.

It’s the inner sanctum of Swiss banking — the heavily-guarded nexus between numbered Swiss bank accounts and their owner’s good names — and it’s the rare American that is allowed entry.

Bradley Birkenfeld was one of the few Americans who held the keys to the kingdom. A Boston-born, high-flying, cross-border banker at Switzerland’s premier financial institution, UBS, he had access to the kind of secret account information that American law enforcement had only dreamed of through all the decades that terrorists, dictators, arms dealers, mafia dons and wealthy tax cheats had hidden behind the fortress of secrecy that Swiss banking promised.

Subterranean bomb-proof vaults and state-of-the-art security systems are the superficial trappings of Swiss banking and its culture of secrecy, but the cornerstone of protection for its clients is the numbered account system that offers all but foolproof privacy. Or so they thought.

Telling Swiss Secrets: A Banker’s Betrayal (Thanks for the tip, Robert!)

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