Swiss banks face withdrawals due to tax clampdown | Reuters


Wealthy clients in 2016 pulled out almost $30 billion (£24 billion) of untaxed assets from three of the world’s biggest private banks, UBS (UBSG.S), Credit Suisse (CSGN.S) and Julius Baer (BAER.S), taking advantage of government programmes letting them pay tax on undeclared money.

Source: Swiss banks face withdrawals due to tax clampdown | Reuters