Opening The Vaults; Is Bank Secrecy Over?

The country's wealthiest people have long relied on Swiss banks for privacy; some to secure their substantial assets, some to conceal them. A big shroud of secrecy, however, may soon be lifted. All American holders of Swiss bank accounts at the banking giant UBS could have their account information turned over to the U.S. government as part of an effort to identify tax evaders. The Justice Department yesterday was granted a wide-reaching subpoena that allows the IRS to seek taxpayer bank data...Full Story
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