Swiss banks have taken part in a long-standing practice of secrecy that people throughout the United States have taken advantage of in order to avoid reporting income and paying taxes on some investment income.
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Archive by Month: July 2015
Banks can be prosecuted by U.S. authorities for failure to report offshore accounts, for failure to report suspicious transactions, for processing suspicious transactions, and a host of other criminal acts. Many of the criminal acts that banks are prosecuted for involve the financial institution facilitating wrongdoing on the part of customers with which it is conducting business.
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