Since 2009, Swiss banks have been under the microscope of U.S. regulators.
That was the year UBS paid a $780 million fine for helping thousands of people evade taxes. And today, banks are still being investigated over the same allegations, reports Financial Times.
FT adds that due to ongoing cases, several banks in Switzerland have threatened to freeze the accounts of U.S. clients unless they offer proof they’re being tax compliant. Read more on legal experts’ views of the situation.
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