Statement of the Swiss Bankers Association on Wikileaks / R. Elmer

  • The SBA cannot comment the Wikileaks case, as all we know is what we gather from the media.
  • In Switzerland, the theft of data is considered as a criminal offence which will be prosecuted ex officio and punished accordingly.
  • The SBA therefore condemns the theft of client data and its official use for administrative assistance.
  • The SBA draws attention to the fact that well-established rules exist to manage international administrative assistance in tax matters and emphasises that these rules must be adhered to. Switzerland has adopted the OECD 26 standard regarding administrative assistance in tax matters.
  • Following a strategic move the Swiss Financial Center will concentrate on the acquisition of and management of taxed assets.
  • The Swiss banking community supports bilateral treaties that introduce a withholding tax and at the same time respect financial privacy - e.g. agreements foreseen with the UK and Germany.