UBS to disclose U.S. bank details, others face scrutiny
BERNE/WASHINGTON (Reuters) – Switzerland will hand over details of about 4,450 UBS bank accounts to U.S. authorities, settling a tax dispute that has threatened Swiss banking secrecy, the two governments said on Wednesday.
The Swiss government has also agreed to review and process requests by the United States seeking information from Swiss banks besides UBS about account holders who may have tried to evade U.S. taxes, the U.S. government said.
The agreement ends a row which has strained relations between the United States and Switzerland and challenged the latter’s jealously guarded bank secrecy laws.
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