National Post, 14 Mar 2009, Diane Francis - Financial Post
Along-overdue crackdown on dirty-money havens such as Switzerland, Hong Kong, Singapore, the Caribbean and others has finally begun. Liechtenstein, Andorra and Switzerland this week caved in to demands by G20 members which are designed to catch tax evaders, crooks and terrorists who hide their money in numbered bank accounts protected by secrecy laws.
What's being demanded is secrecy laws protecting depositors be rescinded or suspended if bona fide governmental or police authorities request information as part of their investigations into tax evasion, money laundering or the proceeds of crime cases.
For years, Swiss, Singaporean and other dirty-money hosts have refused to co-operate or open such accounts to others upon request or even if petitioned to do so within their own court systems.
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