Swiss Offshore Banking Secrecy Under Attack

U.S. and Switzerland and UBS AG are in negotiations to settle a major tax-evasion case that could require the Swiss bank to reveal some of the over 50k or so identitiesof account holders.

Earlier this year, UBS agreed to disclose some 250 account names. This is the latest in a long-running investigation that is trying to destroy Switzerland's strict banking secrecy. This is a breaking story. Look here for more as this story breaks.