Daily DashboardEuropean Data Protection Digest

Swiss Court Prohibits Release of UBS Client Data

FINANCIAL PRIVACY—SWITZERLAND & U.S.

January 25, 2010

A client of Swiss bank UBS won her appeal to prevent the bank from turning over data to the United States when a Swiss administrative court ruled that a disclosure agreement between the two countries only applied to cases of "fraud or the like," the New York Times reports. The lawsuit was prompted by the Swiss government's decision to hand over information for 4,450 customers with Swiss bank accounts to U.S. authorities. Twenty five similar lawsuits remain pending and there is a possibility of appeal, but the ruling held that the language in the agreement did not apply to individuals accused of simple tax evasion. (Registration may be required to access this story.)
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