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Friday, February 20, 2009

Video: UBS deal tests Swiss bank secrecy

UBS agrees to hand over client data to the United States in a tax fraud case settlement, which some say could put an end to Switzerland's banking secrecy. Switzerland's biggest bank also agreed to pay $780 million as well as identify 250 American clients who held undeclared bank accounts to avert criminal charges. But the Swiss Finance Minister says banking secrecy remains.

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