Reuters, 11 Mar 2009, Anna Willard
PARIS (Reuters) - Switzerland, Austria, Luxembourg and many offshore finance centers could face intensified pressure to reduce bank secrecy and shake the tax haven label as G20 leaders seek to reform the global financial system.
The Organization for Economic Co-operation and Development has supplied governments with a long list of places where bank secrecy rules are deemed undesirable, and those three countries plus others feature prominently in OECD records.
In addition to Switzerland, Austria and Luxembourg, a 2008 report by the OECD also named Liechtenstein, Panama, Singapore and others as places where openness was sub-standard. It said many others had promised to rectify things but had yet to do so.
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