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Weekly Roundup: Swiss Bankers Balk at ‘White-Money’ Strategy, Deutsche Bank Employees Arrested for Laundering, and More
printSwiss bankers are lobbying against a tax transparency proposal they feel will "scare off" clients, according to Bloomberg. Proposed in March, Switzerland's so-called white-money strategy would require banks to question their clients about their wealth and reject their deposits if they won't attest that they are tax compliant. The strategy comes three years ahead of an implementation date of a new international standard to treat tax crimes as predicate money laundering offenses. More Israel's foreign minister stepped down Friday after prosecutors accused him of breach of trust in a fraud and money laundering investigation, the Associated Press reported. Investigators suspect...
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