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Protection of Privacy in financial mattersBank secrecy has provided a significant competitive advantage to Switzerland in its development as an international financial centre. The ‘Rolls Royce’ image of Swiss bank secrecy is not merely determined by its legal components, but also by its underlying philosophy, and the perceived discretion, honesty and efficiency of the Swiss banking system. Although bank secrecy in Switzerland has been diluted by the enactment of new financial crimes, it continues to be unassailable in the case of fiscal offences. Switzerland has sought to protect its reputation by prohibiting bankers from actively assisting in flight capital and tax evasion, but this has had little effect on Switzerland’s position as the world’s leader in the management of offshore private wealth. Geneva finances much of the world’s commodity trade, with Swiss banks buying risks through various financial instruments, providing credit to trading companies, and facilitating trading operations. Created by the Swiss Banking Act of 1934, which led to the famous Swiss bank, the principle of bank secrecy is always considered one of the main aspects of private banking. Under the Swiss principle of bank secrecy, privacy is statutorily enforced, with Swiss law strictly limiting any information shared with third parties, including tax authorities, foreign governments or even Swiss authorities. For more information, please do not hesitate contact us : +41225668244 or use our online form. Our financial advisors will be happy to assist you. Switzerland and its Financial CenterSwiss Banking Secrecy Swiss Banking |
From Our Blog : Understanding Swiss Financial Company
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