Swiss law is especially strict about any breech of confidentiality, whether in banking or in other commerce. All banking Employees must sign the secrecy portion of the banking act as a condition of employment. The banking act also adds a special section making it a criminal offense, with the possibility of jail, time for any employee or agent who has been deemed to have improperly divulged any confidential information. These portions of the banking law have been interpreted, both in practice and by the courts, to make it a serious offense to divulge any information about a bank customer to a third party, including official requests from foreign governments.

It’s no small wonder that Swiss bankers are very popular in the world of offshore banking.

Peter Flowers is the publisher of http://www.confidentialbanking.com, a resource and service for those seeking offshore banking services.