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that confirms who they are and a connection to the account. Despite the regulations, numbered bank accounts by their very nature are more private than normal bank accounts. In
Switzerland, for example, bankers are outlawed from disclosing whether or not an account is numbered to any governmental
85:" as an alternative manner to identify the client. However, to open this type of account in Switzerland, clients must pass a multi-stage clearance procedure and prove to the bank the lawful origins of their assets. Banking institutions that have adopted this practice in
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A broker dealer, at the request of the customer, may open an account that is simply identified by a number or a symbol, as long as there is a statement signed by the customer attesting to the ownership of the
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Many sovereign state governments have outlawed the usage of these accounts as they are commonly associated with a desire by the account holder to either minimize governmental scrutiny or avoid
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Several hunkered down in
Switzerland, which refused to extradite its citizens to the United States for actions that weren't illegal in Switzerland. None had actually gone on trial.
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wherein the identity of the holder is replaced with a multi-digit number known only to the client and selected private bankers. Although these accounts do add another layer of
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also require clients to undergo stringent vetting and provide the identity of the beneficial owner. The usage of fake names to open these accounts is prohibited in
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50:, they are not completely anonymous as the name of the client is still recorded by the bank and is subject to limited, warranted disclosure.
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agency unless proof of deliberate fraud is established, not merely the non-reporting of assets in order to avoid taxation.
120:. Most regulations governing the usage of numbered bank accounts require that the holder signs a document and undergoes a
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Switzerland created numbered bank accounts to add a layer of
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173:"Fancy yourself a numbered Swiss Bank account? Here's how you can get one"
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The Fall of UBS: The Forces that
Brought Down Switzerland's Biggest Bank
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31:, offer the usage of numbered bank accounts for an extra degree of
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279:"A Swiss Banker Helped Americans Dodge Taxes. Was It a Crime?"
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336:"Numbered Bank Accounts - Series 10 | Investopedia"
69:. Some Swiss banks supplement the number with a
410:"Offshore Manual: Swiss Numbered Bank Account"
311:"Under Agreement, UBS to Give Up 4,450 Names"
57:for European clients seeking to avoid paying
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253:"Swiss-Privacy.com | Numbered bank account"
65:, this practice proliferated across the
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309:Browning, Lynnley (August 19, 2009).
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374:"How To Open A Swiss Bank Account"
198:Obringer, Lee Ann (June 8, 2011).
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277:Enrich, David (January 6, 2018).
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67:banking industry in Switzerland
61:taxes. With the passage of the
372:Koba, Mark (August 20, 2008).
200:"How Swiss Bank Accounts Work"
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111:off-shore financial centers
29:off-shore financial centers
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63:Swiss Banking Law of 1934
398:Safety Deposit Box Guide
414:www.offshore-manual.com
228:. Pyramid Media Group.
151:Banking in Switzerland
40:Numbered bank accounts
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257:www.swiss-privacy.com
224:Schütz, Dirk (2000).
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25:banks in Switzerland
16:Type of bank account
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340:Investopedia
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181:. Retrieved
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143:Banks portal
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109:, and other
95:the Americas
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39:
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99:Switzerland
59:World War I
434:Categories
157:References
27:and other
79:Octopussy
73:such as "
71:code name
55:anonymity
450:Security
353:account.
129:See also
118:taxation
75:Cardinal
445:Privacy
419:May 18,
383:May 12,
346:May 18,
320:May 15,
288:May 20,
262:May 18,
209:May 18,
183:May 18,
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101:, the
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87:Europe
81:" or "
83:Cello
23:Many
421:2018
385:2018
378:CNBC
348:2018
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230:ISBN
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91:Asia
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