Swiss Banks Seeking To Avoid US Prosecution For Helping Americans Dodge Taxes Urge US Clients To Come Clean About Secret Accounts

Come clean about your secret accounts, some Swiss banks are urging their American clients as the banks prepare to hand over information about such holdings in exchange for U.S. prosecutorial lenience for aiding tax evasion. The new program is a deal between the U.S. Department of Justice and the Swiss Federal Department of Finance looking to crack down on American tax evasion from around the world.