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Swiss banks say new automatic info exchange framework costly

Last Updated: Thursday, February 13, 2014, 18:17

As India and 41 countries on Thursday adopted a new global standard for automatic exchange of information on offshore tax evasion, Swiss banks said this framework is very complex and involves high costs.

Former UBS banker to plead guilty in US tax case, filing says

Last Updated: Tuesday, February 11, 2014, 09:49

A former senior UBS private banker has agreed to plead guilty in connection with a criminal indictment for selling offshore tax-evasion services to wealthy Americans, according to court documents.

Tax evasion: High degree of uncertainty over resolving US probes, says HSBC

Last Updated: Monday, March 04, 2013, 18:23

Banking major HSBC is co-operating with American authorities on providing information related to US-based clients of a group company in India, amid the US cracking down on offshore tax evasion.

Credit Suisse tells US clients it will disclose names

Last Updated: Tuesday, November 08, 2011, 09:35

Credit Suisse AG, Switzerland's second-largest bank, has begun notifying certain US clients suspected of offshore tax evasion that it intends to turn over their names to the US Internal Revenue Service, with the help of Swiss tax authorities.