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Banking Data on Sale for €2.5 Million

FINANCIAL PRIVACY—SWITZERLAND & GERMANY

February 1, 2010

An unnamed person has offered the German government data on about 1,500 German taxpayers who hold Swiss bank accounts, and Berlin is said to be considering the offer, reports the Wall Street Journal. The data was stolen from a Swiss bank and Swiss officials are cautioning their German counterparts not to purchase it. "I consider it rather insidious that a state operating under the rule of law would make use of illegal data," said Swiss President Doris Leuthard. The Swiss Bankers Association is also calling on Germany to return the data, the report states. (Registration may be required to access this story.)
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