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Swiss Banks Turn Over US Client Data with Undisclosed Offshore Accounts

Offshore Account Update

Posted in on August 16, 2011

On January 30, 2012 eight Swiss banks, including Credit Suisse, Julius Baer, and Basler Kantonalbank turned over U.S. client data on taxpayers suspected of tax evasion. This does not put an end to the negotiations between the U.S. and Switzerland—three more banks are still expected to turn over client data and a total of 11 banks are expected to pay heavy fines. Among the 11 banks include: Credit Suisse, HSBC Holdings Plc, Basler Kantonalbank, Wegelin & Co., Zuercher Kantonalbank, Julius Baer Group Ltd., Bank Leumi Le-Israel BM, Bank Hapoalim BM, Mizrahi-Tefahot Bank Ltd., Liechtensteinische Landesbank AG, and NZB AG.

The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the 2012 IRS Voluntary Disclosure Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!


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