Swiss banking
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Swiss banks are world-renowned for their secretive nature and protection of clients. Swiss banks generally have higher confidentiality than other banks, based on Swiss bank law, which regulates what information the banks can give out. In general, there is no way to trace the source of money placed on deposit with a Swiss bank; they do not routinely confirm whether a named person holds an account or not.
Due to international pressure, Switzerland has recently lowered the restrictions, and allowed international police information about suspected criminals.
There are about 400 banks in Switzerland, ranging from the "Two Big Banks" down to small banks serving the needs of a single community or a few special clients. The Two Big Banks, namely Credit Suisse and UBS , have extensive branch networks both throughout Switzerland and in many international centers. Banks are licensed by the Swiss Federal Government through its Banking Commission, and may operate throughout the country. A number also have offices or other representation in foreign countries.
The Swiss banks have a long reputation for managing investment portfolios for their clients, and providing other services such as estate planning, wealth management, trust companies, etc., for individual customers.
Swiss Bank Secrecy
Swiss bankers are under obligation to keep any information about you or your account strictly confidential. This bank secrecy is among the strictest in the world and stems from an age-old historical tradition. It is established in Swiss law. The banking act adds a special section (introduced in 1934, in order to protect accounts of Germans, especially German Jews, from Nazi confiscation) which makes it a criminal offense, with the possibility of an individual going to jail, for the bank or its employee or agent to improperly divulge any confidential information
The only exceptions to this rule concern serious crimes such as gun smuggling and drug trafficking.
Bank secrecy is not lifted for tax evasion. This is because failure to report income or assets is not considered a crime in Switzerland. As such, neither the Swiss government, nor any other government, can obtain information about your bank account. They must first convince a Swiss judge that you have committed a serious crime punishable by the Swiss Penal Code. Bank secrecy will not be lifted for private matters such as inheritance or divorce if you have kept your banking information strictly confidential. It is up to plaintiffs to prove that the account exists if they wish the judge to pursue the case. In this respect, the numbered account provides the maximum degree of confidentiality.