Swiss Bank Secrecy: The Law That Built a Tax Haven

This episode unpacks the 1934 Swiss Banking Act, the law that codified banking secrecy and turned Switzerland into the world's most famous tax haven. Lucas explains how the law emerged partly as a reaction to Nazi Germany's currency controls and Gestapo scrutiny of German Jewish accounts, then traces its evolution through the 1950s numbered accounts, the 2009 UBS scandal, and the eventual erosion of secrecy in the 2010s. Luna asks about the role of Swiss neutrality, the mechanics of anonymous numbered accounts, and the real impact of international pressure. The conversation covers key figures like Paul Volcker, key institutions like the Swiss Bankers Association, and key moments like the 1984 referendum on banking secrecy. A clear-eyed look at how a small Alpine nation built global financial power on a foundation of discretion. #BankingSecrecy #SwissBanks #TaxHaven #1934BankingAct #NumberedAccounts #UBS #PaulVolcker #SwissNeutrality #Gestapo #NaziGermany #TaxEvasion #FinancialHistory #Switzerland #AlpineFinance #FexingoHistory #History #Europe #ModernHistory Keep every episode free: buymeacoffee.com/fexingo