News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Swiss banks enter US tax-evasion programme

Banks from 12 cantons will take part in a US Justice Department programme to identify undeclared American assets held in Switzerland

More than half of Switzerland's publicly backed cantonal banks have now said they will participate in a US programme designed to identify lenders that aided tax evasion, significantly widening an American legal net across the Alpine country's taxpayer-funded institutions.

On Monday, banks from 12 cantons, which are similar to US states, said they would take part in a US Justice Department programme to identify undeclared American assets held in Switzerland.

WSJ Logo