Military Review

What is behind the campaign against bank secrecy?

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What is behind the campaign against bank secrecy?The institution of banking secrets is dying. Destruction of the buildings of the international shopping center in New York 11 in September 2001 and the financial crisis 2007-2009 can be considered crucial events for the future of banking secrecy.


The first event launched a campaign against terrorism organized by Washington, under the pretext of which the US authorities began to seek to obtain unrestricted access to information about bank customers, their accounts and transactions. The Patriot Act, adopted after 11 in September, provided the US intelligence agencies with full access to the once-confidential banking information in America without obtaining special permission from the prosecutor's office and the judiciary. Further, through various international organizations (OECD, IMF, etc.), Washington began to seek free access to banking information throughout the world ...

The second event (the financial crisis) gave a new impetus to the beginning of an active struggle against offshore companies and bank secrecy, and led the campaign against bank secrecy and offshore companies the United States.

These are the official rationales of Washington’s active campaign that began with 2009 to destroy the financial “shadow” in the United States and beyond its borders. However, official statements conceal an undeclared goal - the establishment by Washington (more precisely, the financial oligarchy behind official Washington) of direct control over the global financial and banking system.

When in the midst of the financial crisis, it turned out that the American treasury did not have enough money to plug the biggest holes (recall that Washington began to send hundreds of billions of dollars to save the "sinking" Wall Street banks), a figure appeared on the scene to nobody before the unknown Bradley Birkenfeld. This is one of the former employees of the largest Swiss bank UBS, in the past - the head of private banking. He stated that there were a large number of tax dodgers from the United States in Swiss banks and his willingness to cooperate with US law enforcement agencies to identify such draft dodgers. The Department of Justice and the United States Revenue Service began to require UBS and other Swiss banks to disclose the names of American taxpayers who had accounts with these banks. And as a lever of pressure, they began to threaten to revoke the license of the American branch of UBS. 19 February 2009, the leadership of UBS did not withstand the pressure and agreed to give 250 the names of their US citizens who were hiding, in the opinion of justice of this country, in Switzerland from paying taxes. In addition, the bank had to pay 780 millions of dollars in fines as compensation for taxes that were not received by the US treasury. Washington continued to develop the initiative. A lawsuit was filed against the UBS bank to disclose information about all US customers (thousands in total 52), among which could also be tax evaders.

A bad precedent was brewing. The whole Swiss banking community has aroused. The status quo of an offshore under the name “Swiss Confederation”, which existed for at least three centuries, was violated. In late April, President and Minister of Finance of Switzerland Hans-Rudolf Merz began to convince US Treasury Secretary Timothy Geithner to withdraw the lawsuit against UBS. Mertz promised his American counterpart that this would ensure the approval of a new treaty on the avoidance of double taxation in the Swiss parliament, which the United States so insisted on. However, Washington was adamant.

The Federal Administrative Tribunal of Switzerland, which even gathered for a special session during the holidays, attempted to intervene. The reason for such an emergency meeting was the collective appeal of eight UBS American clients who had accounts at the specified bank. The tribunal prohibited UBS and the Swiss Financial Market Supervision Authority (FINMA) to transfer to the US tax authorities the names of clients. Moreover, the Tribunal warned the bank that in case of non-implementation of this decision, UBS would be subject to sanctions by the Swiss authorities. However, the decision of the Tribunal was belated. It turned out that UBS had already transferred information about American customers to Washington. Swiss banking defense was broken.

Over the past five years after the end of the financial crisis, the institution of banking secrecy has not only inflicted heavy blows on all of Switzerland, but also on the whole of Europe. In the European Union, endless negotiations on the abolition of bank secrecy have been conducted over the past 18 years. A major shift occurred only last year. The European Union has reached an agreement in principle on combating tax evasion at the interstate level. Specifically, it was envisaged that the EU member states would automatically exchange information of a banking nature, which is necessary to ensure the payment of taxes by natural and legal persons of their countries. However, two countries - Luxembourg and Austria - took a special position. Declaring their principled support for the abolition of banking secrecy within the EU, they refrained from taking on specific obligations, linking the signing of the necessary documents with the fulfillment of such a condition as joining the agreement of a number of non-EU countries. First of all, it was about Switzerland and Liechtenstein. If these countries do not join the multilateral agreement on the exchange of banking information, then they will get unjustified competitive advantages. The authorities of Luxembourg and Austria are not satisfied with this situation, since the economies of these countries are the most - compared to other EU member states - depend on the state of the banking sector.

Over the past year, Brussels has exerted constant pressure on Austria and Luxembourg, forcing them to abandon their special position on banking secrecy and cooperation in the field of banking information exchange. Finally, in March 2014, these countries surrendered, all 28 EU member states achieved consensus on the abolition of bank secrecy. Now the pressure of Brussels, as well as Washington, which invisibly controls the process, has shifted to European countries that are outside the European Union. Brussels has stated several times that it hopes to conclude similar agreements with Switzerland, Liechtenstein, Andorra, Monaco and San Marino by the end of the year.

In connection with the liquidation of the banking secrecy institution in Europe, experts began to suggest that the outflow of money to Singapore, Malaysia and Hong Kong would increase.

There is no doubt that in the near future, Brussels and Washington will start processing those countries that are outside Europe. They have already begun to use institutions such as the Organization for Economic Cooperation and Development (OECD) and G-20 to exert pressure on non-European countries. These organizations last year announced the start of international tax reform. The most important part of the reform is the introduction of a program of international automatic exchange of tax information.

The latest event in a series of measures to eliminate banking secrecy was the signing by OECD member states (34 of the state) and 13 by other countries in early May of 2014 a declaration on the implementation of an automatic exchange of tax information. New participants in this program include Singapore and Switzerland, major financial centers that were previously criticized by the OECD and the G20 countries for unwillingness to introduce such a system.

The second and even more powerful instrument of erosion of bank secrecy in the world is the American FATCA law - the law on taxation of foreign accounts. It requires banks in all countries to submit to the US tax authorities information about customers that fall under the category of “US taxpayer”. The FATCA law can be qualified as an attempt by Washington’s direct demand on banks from all countries of the world to eliminate bank secrecy. It was assumed that Russian banks would also have to comply with the requirements of the FATCA law. However, in the light of Washington’s upcoming economic sanctions against Russia, the fulfillment by banks of the Russian Federation of these requirements becomes problematic, meaningless and even dangerous.
Author:
Originator:
http://www.fondsk.ru/news/2014/05/12/chto-stoit-za-kampaniej-po-borbe-s-bankovskoj-tajnoj-27441.html
40 comments
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  1. Good cat
    Good cat 13 May 2014 09: 33
    +25
    So let our banks instead of the Swiss will, we will accept the money of American dodgers.
    1. Vitaly Anisimov
      Vitaly Anisimov 13 May 2014 09: 43
      +21
      Quote: Good cat
      So let our banks instead of the Swiss will, we will accept the money of American dodgers.

      J. Depardieu has long realized that Russia is the most reliable country)))))
      1. Hunghuz
        Hunghuz 13 May 2014 10: 07
        +2
        hi Ukrainians svidomity takizh once again proved that fighting with America is insanity, and to make friends with families even more insanity and idiocy ......)))))))))))))
      2. Aleksey_K
        Aleksey_K 13 May 2014 18: 30
        0
        Your Jo ... pardieu is no longer in Russia.
    2. mamont5
      mamont5 13 May 2014 09: 45
      +4
      Quote: Good cat
      So let our banks instead of the Swiss will, we will accept the money of American dodgers.


      This is where the war with the USA is ensured. They may forgive something, but an attempt on their pocket will not forgive anyone. Your pocket is not some kind of Ukraine there.
      1. SergeySK
        SergeySK 13 May 2014 10: 08
        +4
        Talk nonsense!

        Where to fight (where can aircraft carriers stick with impunity)?
        And how long will they live?

        Europe minus (she is already terrified of entry bans)!

        And when they start, call me a country in which they will not start partisans against them ?? SURE even in Lithuania they will spoil them! ! !

        Nuclear weapons are not considered this is not a war this is suicide!

        And they perfectly understand all this!
        1. The comment was deleted.
        2. siberalt
          siberalt 13 May 2014 11: 13
          0
          And what has already been banned from entering Europe? Can you think of a couple of Russian officials who have become "restricted to travel" to Europe, their entire economy will collapse? Or have shopping tours for their wives been canceled? laughing
      2. Gorinich
        Gorinich 13 May 2014 13: 33
        0
        You are late, the war has already begun. After the Cypriot requisition.
    3. Hunghuz
      Hunghuz 13 May 2014 10: 05
      +2
      hi Are all the farmers of the synagogue in the kibbutz Anadyr guessing? How can MONA TWO eroplans bring down THREE detached buildings ........ ??????? The ways of the Lord Yahweh Jehovah are inscrutable?
    4. xenod55
      xenod55 13 May 2014 11: 05
      +2
      "Looking for firefighters, looking for police", looking for Obama and Merkel in addition, looking for Canadians in the far north, but they will never find anything !!!
      1. Andersen68
        Andersen68 13 May 2014 12: 06
        +1
        The most reliable bank-bank ... good
    5. Klepa
      Klepa 13 May 2014 13: 31
      0
      Fuck them, not information. Money needs to be kept in real estate and diamonds!
  2. Sergg
    Sergg 13 May 2014 09: 35
    +16
    What is behind the campaign against bank secrecy?


    Like what? - Total control over everyone. It is not by chance that attempts are made to evade cash; what is the purpose? - Yes, the same, control over everyone. World domination - only electronic money can be controlled 100%. It is not by chance that Russia is opposed by the UEC, especially the Orthodox. I am against globalization, because it carries from it an apocalyptic darling.
    1. bubalik
      bubalik 13 May 2014 10: 03
      +3
      Sergg RU  Today, 09: 35 How what? - Total control over everyone


      ,,, and when the whole world economy collapses as a result of a crisis or apocalypse, the golden coin hidden in the underground or garden will become relevant ,,, as it was at all times, so it will be in the future ,,,
      1. Aleksey_K
        Aleksey_K 13 May 2014 18: 33
        +1
        Actual will be machine guns, pistols, cartridges for them, grenades and special knives to requisition the actual gold coin.
    2. The comment was deleted.
    3. Ingvar 72
      Ingvar 72 13 May 2014 10: 08
      +4
      But nevertheless, even globalization events are being held in our country: a single social card, avoiding the issue of cash in cash, the tacit refusal of Sberbank to work with savings books (switching to bank cards). Now mobile telecom operators are also being drawn into the global payment system, you can pay bills by phone. It will not lead to anything good.
  3. Mikhail m
    Mikhail m 13 May 2014 09: 36
    +9
    It requires banks from all countries to submit information to the US tax office about those customers that fall under the category of "US taxpayer."

    Russia should also require the submission of information on those clients who fall under the category of "Russian taxpayer".
    We learn a lot of interesting things.
  4. mad
    mad 13 May 2014 09: 37
    +9
    It is necessary to fight offshore and tax evasion, but if the game goes one way, then in FIG it is necessary, especially those who control the threads of control (sorry for taftology) will have control over the economies of states, and this is already a serious damage to the nation. interests.
    And let's make Russia a tax haven for Western investors, under the word NEVER turn them over to their native countries))) Then the bourgeoisie howl)
  5. Sterlya
    Sterlya 13 May 2014 09: 39
    +4
    By blowing up their skyscrapers, the United States solved several problems, including obtaining information about bank deposits, such as for combating terrorism
    1. 225chay
      225chay 13 May 2014 10: 13
      0
      Quote: Sterlya
      Having blown up their skyscrapers, the United States solved several problems,


      "To whom I owe - so I forgive ...")
  6. domokl
    domokl 13 May 2014 09: 42
    +11
    Something the article lifted my mood ... Now it’s not profitable even for oligarchs to hide money abroad ... And they can block and everyone will know where and how much lol Does anyone from the Russian foreign intelligence work in the USA in leading banking roles? lol
    Well, as it turned out, this whole system, built for human animals, absolutely can not work in extreme conditions .. The fundamental components and assemblies begin to crumble ...
    1. Gorinich
      Gorinich 13 May 2014 13: 37
      0
      It is a pity that for most it comes only now. In fact, the entire current crisis is a consequence of the defeat of the global banking system.
  7. sledge
    sledge 13 May 2014 09: 43
    +4
    Do not give pendos information.
  8. mamont5
    mamont5 13 May 2014 09: 43
    +4
    That's it, enough time to give slack, and there everything will roll. The Swiss realized this late.
  9. Yellow white
    Yellow white 13 May 2014 09: 49
    +5
    Yes, to do offshore with us, for all those who are dissatisfied with the states, here's the fun !!
  10. skylare
    skylare 13 May 2014 09: 58
    +8
    The United States, as usual, seeks to control everything in full. We are looking forward to introducing the very notorious Russian payment system, which can at least partially prevent the outflow of data to Uncle Sam. Given the fact that most people in Russia are now on the card system, which means it is completely dependent on Washington’s left foot.
  11. Giant thought
    Giant thought 13 May 2014 10: 01
    +3
    Three-finger shape to them.
  12. atarix
    atarix 13 May 2014 10: 04
    +3
    comply with the laws of another country without an international treaty = nonsense.
    it's like becoming a vassal of this country.
  13. Nitarius
    Nitarius 13 May 2014 10: 15
    +2
    Well NECESSARY OWN --FATCA introduces. AND OBLIGATION TO GIVE OUR OURS TO US!
    And the USA has long NECESSARY TO GIVE!
    AND IF RUSSIA WILL TAKE TO THE CUSTOMS UNION-SWITZERLAND .... THEN THE USA WILL NOT WHEN DO NOT LOOK AT IT.
    POL-Europe then WANTS TO CUSTOMS UNION))
  14. Sergg
    Sergg 13 May 2014 10: 27
    +3
    bubalik (2)
    ,,, and when the whole world economy collapses as a result of a crisis or apocalypse, the golden coin hidden in the underground or garden will become relevant ,,, as it was at all times, so it will be in the future ,,,


    I agree, but not only gold, a house in a village with a vegetable garden will feed the same. It is very pragmatic to have at least a dacha away from the city. We all understand that an economic apocalypse will come ... well, let the optimists continue to say that "the glass is half full," and the pragmatists should go closer to the village.
    1. bubalik
      bubalik 13 May 2014 10: 43
      0
      Sergg RU  Today, 10:27 am We all understand that an economic apocalypse will come ... well, let the optimists continue to say that "the glass is half full," and the pragmatists should go closer to the village.


      ,,, good that's for sure,,,
    2. The comment was deleted.
  15. arch_kate3
    arch_kate3 13 May 2014 10: 34
    +1
    Yes, financial independence is national independence! We must resist globalization! An alternative is a multipolar world.
  16. Lumumba
    Lumumba 13 May 2014 10: 43
    +1
    War with America?

    Everyone understands that in any situation this is the end of humanity. But stealth to spoil - these are the masters. And they will do so if there is an offshore in Russia.
    1. Gorinich
      Gorinich 13 May 2014 13: 40
      0
      Russia offshore it would be nice. There is another option, in which Russia seems to have nothing to do with it, but the result is the same. Belarus offshore ....
  17. Rohon
    Rohon 13 May 2014 10: 49
    +2
    The war with America, has been going on for a long time, though with a quiet glanders, but ....
  18. Bobxnumx
    Bobxnumx 13 May 2014 10: 50
    0
    The USA has bent Europe and is doing what it wants with the EU, as can be seen in the Ukrainian crisis. EU actions are led from overseas, and Russia and China are struggling with this American bacchanalia from serious countries.
  19. kingnothing
    kingnothing 13 May 2014 10: 54
    +1
    ENOUGH TO FEED AMERICA !!!
  20. valentina-makanalina
    valentina-makanalina 13 May 2014 11: 08
    +2
    Russians have their own bank secrecy.
    Most Russians hold their capital in glass jars at home. And not even in 3 liter (it’s too painful for them), but from under baby food.
  21. Begemot
    Begemot 13 May 2014 11: 38
    0
    The Americans have already refused to negotiate the FATCA with Russia. And this may lead to the gradual closure of correspondent accounts of Russian banks in America. In the medium term, this is bad, but in the long term, our ruling community will finally undermine the rejection of the dollar in foreign trade.
  22. silberwolf88
    silberwolf88 13 May 2014 11: 47
    0
    Total control ... As the foundation of the American vision of freedom ...
  23. Beygur
    Beygur 13 May 2014 12: 09
    0
    It is interesting how quickly in Russia the perception of both the United States and Europe and, in general, the perception of the world in a matter of years has changed. Moreover, even those people who do not "sit" on the Internet and do not write comments. Most do not expect anything bright from the future, I agree, although would, theoretically, "that it would probably be nice to stock up on food or have a house in the village, and some who, practically," buy affordable legal weapons. Maybe it's time to turn money into something that will help to survive? What do you think, people?
  24. Prutkov
    Prutkov 13 May 2014 12: 18
    +1
    The special status of Crimea allows you to make it a very interesting offshore.
  25. Manul49
    Manul49 13 May 2014 14: 15
    0
    Nothing new.
    Americans want total control over everything they can.

    And the reality of Russia as an offshore should be studied by professionals. I personally find it difficult to calculate the results. Although I really like the idea.
  26. Manul49
    Manul49 13 May 2014 14: 17
    0
    It's funny. I wrote "y.s.ovtsy", and in the post appeared "Americans".
    What is that supposed to mean?
  27. Tektor
    Tektor 13 May 2014 22: 58
    0
    You can become an attractive country if you offer the world of finance a truly anonymous account - "cyber safe": the bank does not know the name of the owner, but knows what lies in the account. Complete anonymity consists in the distribution of accounts of this kind through the anonymous sale of SIM cards associated with the account. What is contained on the account knows the SIM card, which can, in an encrypted form, allow or prohibit an ordinary plastic card with the owner's name to make purchases, etc. Communication of a SIM card with a plastic one inserted into the payment terminal is carried out in encrypted form by dialing a pin code on phone and choice of actions. The plastic one does not know what and how much the cardholder and account details have, and the cyber safe SIM card does not know the name of the owner, because the exchange of such information should be prohibited. Everything is incognito: even Putin will be able to dispose of his account without attracting outside attention.