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What is Swiss banking secrecy?

April 26, 2017Banking secrecy Swiss

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What is Swiss banking secrecy?

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Swiss banking secrecy requires that asset management firms and banks in Switzerland maintain an obligation of discretion towards any information concerning their clients. This “secrecy” provides a privacy zone for clients; as such, it is comparable with the client secrecy maintained by a doctor or lawyer. The respect for a client’s privacy is one of the fundamental principles of the Swiss legal order, and it is part in the Swiss Constitution (art 13).