The U.S. government is determined to stop tax evasion and they are doing so by going after banks and bankers. Unfortunately for the clients of those bankers, many are willing to turn over information on their clients as part of plea deals to avoid jail time or lessen their personal consequences.  Some banks have already paid huge fines and some bankers are already on trial.

United States authorities have prosecuted around three dozen foreign bankers and have arrested more financial professionals for helping U.S. citizens evade their income tax obligations. One of the individuals who was arrested was the former head of UBS’s wealth management for the Americas.