Published: 04 Dec 2012 15:58 GMT+01:00 | Print version
Updated: 04 Dec 2012 15:58 GMT+01:00
A tax-dodging spat involving the Swiss bank UBS and Germany took a fresh twist after a Swiss daily reported on Tuesday that German authorities were using simple photos taken by a UBS worker of an office computer screen.
"The data was photographed from a (computer) screen and pieced together bit by bit," lawyer Jorg Schauf, representing a UBS client, told the Tages Anzeiger.
Describing the quality of the information obtained by the German state of North Rhine-Westphalia as "remarkable", Schauf blamed the "work of an internal source" for the leak.
Many banks have worked to shore up internal security protocols since client's private information began to find its way to German tax investigators in 2007, which this latest method circumvents.
"Everything is in (the photographs)," said Schauf, including a complete overview of clients' assets, their wealth before and after the global
financial crisis and the names of their advisers at the bank.
The data handed over contains information on assets worth more than 3.5 billion francs ($3.8 billion), with the most recent information dating back to March 2010, the daily reported.
New procedures are being introduced at the bank, a UBS spokesman said.
A tax deal between the two countries aimed at ending such exchanges is proving elusive after Germany's upper house — the Bundesrat — blocked ratification last month.
Under the terms of the double taxation agreement signed by ministers from both countries earlier this year, German citizens with assets parked in Switzerland's notoriously secretive banks faced paying a tax rate of 26.4 percent on their holdings.
Switzerland's senate on Wednesday again backed a deal with Washington to expose US tax dodgers and fine Swiss banks which helped hide their money, a day after G8 leaders agreed to chase cheats and corporate fiddles. READ () »
When I lost my job in Zurich three months ago, I felt like the world was collapsing around me. I felt inadequate and angry, and had a sense of shame about becoming unemployed in a foreign country. READ () »
At least four drowning deaths were reported in Switzerland on Tuesday amid the country’s continuing heatwave, which is drawing throngs of bathers to the country’s rivers and lakes. READ () »
The world's largest fully solar-powered boat, a Swiss vessel called "Turanor PlanetSolar," docked in New York on Tuesday during a mission to study the effects of climate change on the Gulf Stream current. READ () »
Swiss champion football team FC Basel may be in danger of losing one of its top players, striker Jacques Zoua. READ () »
Students at one of Zurich’s largest secondary schools were sent home on Tuesday after seniors trashed parts of the building in what was described in news reports as a “graduation prank”. READ () »
The last mountain pass highway route in Switzerland was finally cleared of snow on Tuesday as most of the country continued to swelter in a heatwave with record-breaking temperatures. READ () »
Britain's Serious Fraud Office on Tuesday said that former UBS trader Tom Hayes had become the first person to be charged in connection with its probe into the Libor rate-rigging scandal that has rocked the banking sector. READ () »
Switzerland’s lower house of parliament has voted against debating a secret deal between Bern and Washington aimed at settling a legal battle over Swiss banks’ alleged complicity in tax evasion by American citizens. READ () »
A 19-year-old man who punched his mother several times in the face received a 16-month prison term from a Zurich district court on Monday. READ () »
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