Wednesday, January 26, 2011
Why Banking Secrecy Is Dead or Dying in Most Countries Today and Its Significance to You
It has been estimated that distinct millions of Americans do business offshore to capture advantage of strong privacy and secrecy laws. Switzerland, Luxembourg, Liechtenstein, Singapore, Austria, and Panama have been at the top of many lists for this purpose. However, developments in recent years have negated much of the secrecy benefits of these businesses and offshore accounts. For most Americans who already follow the legally required reporting requirements of U.S. laws, it probably has small practical significance. It is however, an indication of an alarming trend. More information: more
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