Bank secrecy

[8] Geneva bankers established secrecy socially and through civil law in the French-speaking region during the 1700s.

Almost all banking secrecy standards prohibit the disclosure of client information to third parties without consent or an accepted criminal complaint.

Recent research has indicated that the use of offshore financial centers has been of concern because criminals get involved with them.

[11] After Al Capone's 1931 condemnation for tax evasion, according to journalist Lucy Komisar: mobster Meyer Lansky took money from New Orleans slot machines and shifted it to accounts overseas.

[12] For instance, the role of economic interests, competition between financial centers, and the influence of political power on international organizations like the OECD are great places to start.

Switzerland is known for its bank secrecy and strict bank–client confidentiality. Pictured : the Swiss Alps , the location of many underground storage bunkers for gold. [ clarification needed ]
Mobster Al Capone was charged with and prosecuted for income tax evasion in the 1930s.