Swiss bank UBS letting go of some secrets
Swiss banks have been revered, loved, and hated for their tightly-held secrets, but Swiss bank UBS has agreed to a legal settlement with the United States government after it was revealed that the bank was operating as a willing shelter for tax evaders. The bank is set to give U.S. tax regulators access to hundreds of bank accounts and will also pay close to $780 million in fees. For more on the story we turn to BBC business correspondent Mark Gregory.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!