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While true, Switzerland now shares banking data with the EU and US when required for their respective nationals. So foreign governments can and do exert pressur
by guitarbill 8y ago
While true, Switzerland now shares banking data with the EU and US when required for their respective nationals. So foreign governments can and do exert pressure on them successfully.
- cyphar 8y agoWhile technically true, I've heard that most Swiss banks refuse to give US citizens bank accounts specifically to avoid the liability of the IRS's scheme to exfiltrate foreign bank data.
- guitarbill 8y agoIt's because of FATCA I think? Banks in many countries won't usually refuse completely, but you can't open cheap accounts, because they want to charge Americans as much as possible to recoup the extra costs.