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Under Swiss law, secrecy and confidentiality are fundamental principles, particularly within the banking, fiduciary, and legal sectors. Switzerland has long been recognized for its strict privacy protections, which are designed to safeguard the personal and financial information of individuals and corporations.
SWISS Banking Secrecy
Established under Article 47 of the Swiss Banking Act, banking secrecy prohibits banks and financial institutions from disclosing any client-related information to third parties without the client’s explicit consent. Violating banking secrecy is a criminal offense and can lead to fines or imprisonment. The law applies to all employees, agents, and anyone with access to confidential banking data.
Swiss secrecy laws remain among the most respected in the world. While modern transparency standards have slightly narrowed their scope, confidentiality and client privacy continue to be core pillars of the Swiss legal and financial system.