US Prosecution of Swiss Bank Account Holders

Between 2009 and 2013, prosecutors in the United States brought cases against 68 US citizens, 3 Swiss banks, and 30 bankers, lawyers and tax advisers for tax evasion activities.

During that time period, the IRS conducted an amnesty program that allowed US citizens to declare their bank accounts in Switzerland in order to avoid prosecution. 38,000 Americans participated in the amnesty program that moved $5.5 Billion from Swiss bank accounts to the US.

(Additional tax evasion and laundering cases.)

Source:  David Voreacos, “Secret Swiss Accounts Said No Longer Safe for Tax Dodging,” Bloomberg Businessweek, September 8, 2013.