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Data Disclosure Angers Swiss Bank Employees

EMPLOYEE PRIVACY—SWITZERLAND & U.S.

August 21, 2012

Employees at several Swiss-based banks have expressed disapproval over the disclosure of their personal information to U.S. authorities investigating American tax evaders, The Wall Street Journal reports. In some cases, employees were not told of the handover or were told but not allowed to review the data. The Swiss government, in order to avoid an indictment of its banks, allowed banks to share data of thousands of employees with the U.S. Department of Justice. A Zurich University professor said, “The Swiss should offer whatever help is required for the U.S. to track down tax dodgers, but they should make clear that they will do so within the country’s legal framework.” (Registration may be required to access this story.)
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