A global clampdown on tax evasion, led by U.S. law authorities, has transformed the banking industry in Switzerland. Without its famed reputation for secrecy, wealthy foreigners no longer see it as a haven to hide their money. So how have Swiss banks adapted? CNBC’s Tom Chitty is joined by Geoff Cutmore to explain.
-----
Subscribe to us on YouTube: http://cnb.cx/2wuoARM
Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz
-----
Subscribe to us on YouTube: http://cnb.cx/2wuoARM
Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz
-
- 1
Francisco Gimeno - BC Analyst Swiss banks? The whole banking system is in trouble! The issue goes beyond tax evasion. And Swiss banking will, as always have done, adapt much better to the reality of the 21st century than other Western banking systems, including USA. The digital economy is already bringing that transformation.