It is indeed. However it's no longer acceptable to accept dirty untaxed money period. As a consequence many Swiss banks have gone out of business or been taken over. At least two I banked with disappeared overnight at the time i.e Frey and Hottinger.Whether the Swiss have seen sense ... or succumbed to extortion is a highly debatable question.
Much more will follow also as Swiss banks can't charge clients fees like they used to be able to charge the criminals that banked with them. They now have to be competitive and their asset base has shrunk with no dirty money....lol.