Germany split over Swiss bank data

Now Reading:

Germany split over Swiss bank data

Text size Aa Aa

Germany is reportedly considering an informant’s offer to sell secret Swiss bank data on up to 1,500 suspected tax evaders.

The Frankfurter Allgemeine Zeitung claims the whistleblower wants 2.5 million euros for the confidential data, which is said to mostly concern accounts in the Swiss banking flagship UBS.

But Doris Leuthard, President of the Swiss Confederation, suggested it would be unethical of Germany to buy the information.

“Generally, international law forbids using illegal data and we stick to this rule. If there’s a new profession of stealing data, maybe the next thing will be stealing medical records,” she said.

Tax investigators believe Germany could boost state coffers by 100 million euros if it does meet the whistleblower’s demand.

Germany’s Economy Minister Rainer Bruderle says he believes the relationship between Germany and Switzerland can withstand any decision whatever happens.

UBS, which has been bailed out by the Swiss government and accused of helping rich Americans dodge taxes, says it is not aware of any such information.

Members of Germany’s opposition Greens and Social Democrats, however, encouraged the government to buy the data on behalf of
“honest taxpayers”.