In the rare event when this transpires, the case is brought before a Swiss judge.
#Swiss number banking full
So, the goal is to protect honest, law-abiding bank clients whereas, criminals will be exposed to the full extent of the law. With virtual all serious crimes a Swiss judge can order the privacy rights to be curtailed when criminal proceedings are underway. A Swiss bank account is not a haven for the criminal.
Terrorists, drug dealers, money launderers, tax evaders and inside traders beware.
Naturally, as in any responsible, reputable and highly respected banking center such as Switzerland, the privacy laws are not meant to be open doors for criminal activity.
#Swiss number banking professional
“Whoever divulges a secret entrusted to him or of which he has become aware in his capacity as officer, employee, mandatory, liquidator or commissioner of a bank, as representative of the Banking Commission, officer or employee of a recognized auditing company and whoever tries to induce others to violate professional secrecy, shall be punished by imprisonment for not more than six months or by a fine of not more than SFr. 47) of the Swiss Banking Act, Paragraph 1 reads as follows: The banker is specifically obligated under the contractual obligation to protect and guarantee the confidentiality of the client’s Swiss bank account.Īrticle 47 (Art. Privacy laws for Swiss bank accounts are specifically written in the Swiss Civil Code. Swiss Bank account client privacy has many legal foundations in Switzerland. The Swiss Banking Act provides for criminal punishment against anyone who reveals private information about a Swiss bank account or anyone who induces others to violate the privacy of a Swiss bank account.Īrticle 47 of the Swiss Banking Act provides for criminal sanctions (imprisonment for no longer than six months or a fine of not more than 50,000 Swiss francs – nearly $40,000 US) against anyone who divulges confidential information entrusted to him or of which he has become aware in his capacity as an officer or employee of a bank, and against anyone who tries to induce others to violate professional confidentiality.Īrticle 47, therefore, was enacted in order to attract wealth and as a means of protecting people in need of financial protection. “2 All persons have the right to be protected against the abuse of personal data.” “1 All persons have the right to receive respect for their private and family life, home, and secrecy of the mails and telecommunications. The following is an article directly out of the Swiss Constitution. The “Federal Constitution of the Swiss Confederation” and the “Swiss Banking Act” guarantee the right to privacy, including, but not limited to Swiss bank account privacy. There are four basic principles incorporated into the Swiss banking laws. The foundation of these area are the Swiss banking laws. There are a number of reasons why Swiss bank accounts are among the most highly regarded accounts in the world.
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