The majority of Private Banks and Wealth Managers worldwide shows little regard for the protection of personal data on their public websites. MyPrivateBanking Research surveyed 195 websites of providers in the 17 most important banking markets and found that 61% of the banks do not offer secure web messaging. Almost as high, at 59%, is the proportion that do not give privacy warnings to users of their website about sending unprotected e-mails to recipients at the bank. ... more

Yesterday the US and the Swiss government disclosed some (but not all) details of their agreement regarding the case IRS vs. UBS. It required only six pages for the US and the Swiss authorities to determine how the private financial data of thousands of US citizens will be swiftly handed over by the UBS to the Swiss government and thereafter to the waiting hands of the US authorities. ... more

We are convinced that offshore banking will largely come to an end within the next 10 years due to a triple assault by cash strapped governments around the world. This triple assault is happening right now, lead by the US and major EU countries to end offshore banking as we know it.... more