Swiss banking secrecy is the stuff of legend. By their very definition, Swiss accounts are seen as places to ferret away cash. For decades, they were used to hide assets away from prying eyes. The practice was supposed to be eliminated a few years back, with banks promising they would no longer retain problematic customers and that they would cease accepting illicit funds. But did they follow through?
After a whistleblower provided the investigative team at the Süddeutsche Zeitung newspaper with data pertaining to thousands of accounts at Credit Suisse, the investigative journalists Hannes Munzinger, Frederik Obermaier, and Bastian Obermayer stumbled across dictators, heads of secret services, kings, cardinals, and everyday members of the super-rich. They all deposited money in Switzerland, including funds belonging to the public. Some stole the money in their home country, while others simply sought to avoid paying taxes. As the authors prepared to publish these abuses together with journalists from around the world, they came to realize that Switzerland has curbed press freedoms to protect banking secrecy, and even threatens journalists with jail time, making publication there even riskier.
An investigation stretching over the course of several months and conducted under the utmost secrecy provides a fascinating behind-the-scenes view of the financial system and a politically explosive joint exposé: For the first time, the authors share the story behind #SUISSESECRETS.
Rights to the authors´ previous bestselling title Panama Papers have been sold to 16 countries.
