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title: "So much for Swiss banking privacy.  Time to shift assets to Monero,…"
date: 2017-01-02
source: facebook
type: Archer T. Ships shared a link.
---

# So much for Swiss banking privacy.  Time to shift assets to Monero,…

*January 2, 2017 · Facebook*

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[http://www.swissinfo.ch/eng/business/tax-evasion_swiss-say-goodbye-to-banking-secrecy-/42799134](http://www.swissinfo.ch/eng/business/tax-evasion_swiss-say-goodbye-to-banking-secrecy-/42799134){target="_blank"}
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So much for Swiss banking privacy. Time to shift assets to Monero, Z.cash, bitshares and other truly private stores of value.\
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\"The international convention on the automatic sharing of banking information entered into force on January 1. This heralds the beginning of the end of the country's reputation as a tax haven.\
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The application of the 'Multilateral Convention on Mutual Administrative Assistance in Tax Matters' means that Switzerland has come into line with international standards on taxation. Over a hundred other states have already signed-up to the agreement. This will ensure that financial information on bank accounts held by citizens of certain countries in Switzerland and vice-versa will be shared annually. Switzerland will begin collecting such data from 2017 onwards and begin sharing it with select countries from 2018.\"\
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[http://www.swissinfo.ch/eng/business/tax-evasion_swiss-say-goodbye-to-banking-secrecy-/42799134](http://www.swissinfo.ch/eng/business/tax-evasion_swiss-say-goodbye-to-banking-secrecy-/42799134){target="_blank"}
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