Swiss Banking Secrecy: From Medieval Chests to Global Controversy

In this episode of The Story of Switzerland, Lucas and Luna explore the origins and evolution of Swiss banking secrecy — a policy that turned a small Alpine nation into the world's most trusted financial safe haven. Starting with 16th-century Geneva, where Calvinist ethics and refugee banking merged, they trace the rise of the private banker, the 1934 Banking Act that criminalized secrecy breaches, and the controversial Numero accounts that allowed anonymous holdings. They discuss how Switzerland weathered the Nazi gold trade, the 2008 UBS scandal, and the final crackdown that ended strict secrecy in 2018. Along the way, they meet figures like Jacques Mallet and the secretive Wegelin & Co., the oldest Swiss bank. The episode uncovers the delicate balance between privacy and transparency, and how a medieval tradition of discretion became a modern global flashpoint. #SwissBanking #BankingSecrecy #NumeroAccounts #1934BankingAct #UBS #Wegelin #JacquesMallet #Geneva #Zurich #NaziGold #BergierCommission #OECD #TaxEvasion #GlobalFinance #SwitzerlandHistory #FexingoHistory #MedievalTrade #Calvinism Keep every episode free: buymeacoffee.com/fexingo