b00nish

In Switzerland we sometimes hear the narrative that our banks nowadays have become rather clean in comparison, while most of the money-laundering and tax-evasion is now done in other places. Like in typical offshore-havens like Panama, Cayman Islands etc. but also in Delaware, USA or Ireland. It is even claimed that some of our neighbors in fact have more bank secrecy now than we do.

Can you say anthing about how realistic that narrative is?

As an American citizen, you have bigger fish to fry in your own country:

How Delaware Became the World’s Biggest Offshore Haven

they've just found new ways to hide it.

Or as the example shows, they fail to hide it.

Which of course adds to my question:

- How strict ist the regulation in Switzerland nowadays compared to other countries

- How good are those who have to find violations against the regulation compared to other countries

Switzerland funded a large-scale investigation on that topic in the 90ies. Their final report has more than 12000 pages. There also was a compensation program for the descendants.