Swiss People Want Secrecy Laws Upheld
FINANCIAL PRIVACY—SWITZERLANDMarch 15, 2010
A Swiss Bankers Association survey of more than 1,000 Swiss citizens has found that the majority oppose ending banking secrecy laws in the state. Seventy-three percent of respondents want the laws maintained, down five percent from last year's poll. In addition to wanting confidentiality laws upheld, 40 percent of respondents indicate that their government should do more to protect the tradition and 70 percent say they object to the automatic exchange of banking information with other governments. The Swiss government has been facing international pressure to relax the rules in order to assist international tax evasion investigations.