Swiss Bank Secrecy Ends

(Geneva, Switzerland)

The tax service in France has seen a flood of requests to regularize funds hidden abroad, a minister said Monday, as Switzerland pledges to end its vaunted banking secrecy under international pressure.[…]

Switzerland has agreed to an international convention against tax fraud and signed an agreement with the United States on the automatic reporting of bank account information, which is expected to become the standard model to discourage tax fraud.

No more hiding money in Switzerland, friends.