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3 unusual facts about Federal Act on Banks and Savings Banks


Federal Act on Banks and Savings Banks

In April 2013, French Minister Jérôme Cahuzac was forced to resign when the Geneva public prosecutor, acting quickly on a French request related to tax fraud, found evidence of undeclared Swiss accounts.

After the revelations of whistleblower Bradley Birkenfeld in 2007, UBS—which was then the largest bank in the world—was caught red-handed by the United States government offering tax evasion strategies, sending undercover bankers with encrypted computers to the United States.

The Peugeot brothers and François Coty, of the famous perfume family, were on his list.



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