Friday, October 1, 2010

Would You Hide Money In A Swiss Bank Account?


The Swiss are known for their secrecy. They'll hide anything including what you have in your bank account. Heck, they won't even ask where you got the money from which is a big + for anyone who wants to avoid the tax man, but really is it worth it as the Swiss can't really guarantee it anymore.
Last week a man named Falcinani hacked into HSBC Private Bank's computers in Geneva to expose the accounts there. He hacked the own system he was paid to protect as he believed criminals were hiding their money there and believed it was very wrong. Currently the Swiss are mad and want the info back. Well, they got a copy back and the French kept the original. At least, they gave it back and coughed it to other countries including Britain, Italy, and Canada. Falcinani is currently in Niche, France under protection from the French even though the Swiss want him in Swiss jail. He is not afraid of death, but it is possible for what he has done.

These kinds of things are illegal and should be changed, but they aren't. Big companies like Credit Suisse, HSBC, and UBS are all coughing up accounts. Some are through hacks and some are voluntarily. Take UBS which gave up names of thousands of offshore account names of people trying to avoid the taxman. Yet is it worth it as some countries might not be as generous as the French, who only required the owed taxes be payed back, but it is unknown how the other countries take it.

The Swiss are not secret anymore, we know that fact. There are white knight hackers in this world who want to make change, but in order to make that change you have to get help from outsiders which sometimes means breaking the law even if it;s for a good change.

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