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  • Essay / The Pros and Cons of Swiss Banking - 1405

    One way is to encourage courageous acts; acts such as denunciation. A whistleblower, named Bradley Birkenfield, assisted the United States in 2007 by providing detailed accounts of one of UBS's initiatives to promote tax evasion. Birkenfield assisted the United States by describing how the tax evasion scheme worked. As part of the scheme, he confessed to running errands for wealthy clients, purchasing art, jewelry from funds deposited in Swiss accounts and even slipping diamonds into a tube of toothpaste to help American taxpayers to open foreign accounts and avoid fraud.