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Definitely understand that it feels like a slap in the face given Switzerland's tradition of bank secrecy, but the reason these (multinational) banks now do this is that, generally speaking, they and their customers are paying a modest inconvenience for their past criminal actions. These banks are not solely Swiss; they are multinational corporations and were probably breaking the law. Maybe not Swiss law, but the law of countries they had a nexus with.

https://en.wikipedia.org/wiki/UBS_tax_evasion_controversies

https://www.accountingtoday.com/articles/a-top-swiss-bank-se...

https://www.independent.co.uk/news/business/news/swiss-bank-...

https://www.channelnewsasia.com/news/commentary/1mdb-najib-r...


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