Swiss banking is dead and buried

[Sols]

Why China? Why Hong Kong? Why not "Macau"!

An interesting discussion, suitable for a different thread. Let's stick to the topic of Swiss banking here.

 

[clemens]

In what year did the banking secrecy stopped in Switzerland and what was the key that some organization used to make that happened?

 

[Simon4466]

In what year did the banking secrecy stopped in Switzerland and what was the key that some organization used to make that happened?

I believe this was 2018 when they started CRS reporting. More or less the final nail in the coffin.

 

[uranium]

Whoever says swiss banking is dead, has no idea what he is talking about simply because he is not on the ground
Swiss banking has gone more private now aka higher min requirements
I give you example; maerki baumann they offer numbered accounts starting from 3 mil deposit.

 

[369]

Does numbered accounts still exist ?
I was told from my private bank that they don't exist for over a decade anymore.

 

[JohnnyDoe]

Numbered accounts are perfectly useless. The only “advantage” is that when you call the bank you can avoid telling your name and just mention the account number. They are subject to all the same KYC and reporting requirements as standard accounts, and always raise red flags when used for wire transfers (in/out), as the receiving/sending third party will require full KYC on the numbered account - something that seldomly happens with a standard account.
However, they are a very good marketing gimmick and an excuse for charging additional fees.

 

[jafo]

I give you example; maerki baumann they offer numbered accounts starting from 3 mil deposit.

Let's assume this is true! Right after you wrote this, the "gangsters with badges under the ruse of government regulators" lurking on here have already targeted Maerki Baumann and levied monetary penalties against them.

PS. There are NO mutes in prison! EVER!

 

[uranium]

Let's assume this is true! Right after you wrote this, the "gangsters with badges under the ruse of government regulators" lurking on here have already targeted Maerki Baumann and levied monetary penalties against them.

PS. There are NO mutes in prison! EVER!

I only mentioned it because I don't have account with them

 

[JackAlabama]

Numbered accounts are perfectly useless. The only “advantage” is that when you call the bank you can avoid telling your name and just mention the account number. They are subject to all the same KYC and reporting requirements as standard accounts, and always raise red flags when used for wire transfers (in/out), as the receiving/sending third party will require full KYC on the numbered account - something that seldomly happens with a standard account.
However, they are a very good marketing gimmick and an excuse for charging additional fees.

exactly. Plus bored bank monkeys at work cannot simply google your name and snoop thru your account to see what youre up to.

 

[jafo]

I only mentioned it because I don't have account with them

Way to ruin the lives of all those accountholders at Maerki Baumann with numbered accounts!

 

[JackAlabama]

Way to ruin the lives of all those accountholders at Maerki Baumann with numbered accounts!

another angle of ruin is due to them openly advertising crypto exposure, a reason Id stay away even if they offered me to open account under with the papers of my schizophrenic alter ego with a 100 bucks min balance.

 

[JohnnyDoe]

exactly. Plus bored bank monkeys at work cannot simply google your name and snoop thru your account to see what youre up to.

Everybody in the bank knows who you are, and you can bet the monkeys will be particularly curious to find out more about the guy they scammed by selling a perfectly useless and expensive product.

 

[uranium]

another angle of ruin is due to them openly advertising crypto exposure, a reason Id stay away even if they offered me to open account under with the papers of my schizophrenic alter ego with a 100 bucks min balance.

You pay them high fee to store your crypto at third party bank incore

InCore Bank signs Maerki Baumann as first client for Ethereum staking, powered by SDX

InCore Bank can now offer Ethereum staking capabilities that are fully compliant with Know-Your-Client (KYC) and Anti-Money-Laundering (AML) regulations to their clients.

www.finextra.com

Let's assume this is true! Right after you wrote this, the "gangsters with badges under the ruse of government regulators" lurking on here have already targeted Maerki Baumann and levied monetary penalties against them.

PS. There are NO mutes in prison! EVER!

They already did
MBC provided numbered accounts for 134 U.S. Related Accounts, whereby MBC would allow the account holder to replace his or her

Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program

The Department of Justice announced today that Maerki Baumann & Co. AG (Maerki Baumann) reached a resolution under the department’s Swiss Bank Program. Maerki Baumann will pay a penalty of more than $23 million.

www.justice.gov

 

[JackAlabama]

Everybody in the bank knows who you are, and you can bet the monkeys will be particularly curious to find out more about the guy they scammed by selling a perfectly useless and expensive product.

true that. gossip runs wild when people have too much time.

You pay them high fee to store your crypto at third party bank incore

InCore Bank signs Maerki Baumann as first client for Ethereum staking, powered by SDX

InCore Bank can now offer Ethereum staking capabilities that are fully compliant with Know-Your-Client (KYC) and Anti-Money-Laundering (AML) regulations to their clients.

www.finextra.com

They already did
MBC provided numbered accounts for 134 U.S. Related Accounts, whereby MBC would allow the account holder to replace his or her

Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program

The Department of Justice announced today that Maerki Baumann & Co. AG (Maerki Baumann) reached a resolution under the department’s Swiss Bank Program. Maerki Baumann will pay a penalty of more than $23 million.

www.justice.gov

banking there seems very risky to me, much more than elsewhere in Switzerland.

I can entertain the tought, that bank will be let go under rather easily in times of distress since its not in any way shape or form politically based (like a community bank where every grandpa has an account), systemically important (like ubs or the exterminated cs) nor do other locals bank there in large numbers (like a hip and woke emi or smth), more of the opposite, its a semi-obscure place for the evil rich who deserve to be fleeced.

 

[uranium]

true that. gossip runs wild when people have too much time.


banking there seems very risky to me, much more than elsewhere in Switzerland.

I can entertain the tought, that bank will be let go under rather easily in times of distress since its not in any way shape or form politically based (like a community bank where every grandpa has an account), systemically important (like ubs or the exterminated cs) nor do other locals bank there in large numbers (like a hip and woke emi or smth), more of the opposite, its a semi-obscure place for the evil rich who deserve to be fleeced.

Maybe you have better suggestions?

 

[JackAlabama]

Maybe you have better suggestions?

depends on the min balance you can deposit (pick a low profile one) or just take ubs.

Just to bring an example: Id pick swissqoute over mb since swissquote is wildly used among the locals, so letting this one go under will cause some uproar.

 

[jafo]

another angle of ruin is due to them openly advertising crypto exposure, a reason Id stay away even if they offered me to open account under with the papers of my schizophrenic alter ego with a 100 bucks min balance.

Maybe it's part of their 2015 DEFERRED PROSECUTION AGREEMENT with the USDOJ!
Sort of like a Honey Pot
It is kind of like the corporate version on steroids of "SUBSTANTIAL ASSISTANCE, 5K1.1 MOTIONS, AND RULE 35 MOTIONS" for individuals."

For the skeptic & gullible members who still have hope in the goodness and fairness of "banksters," here's the source:

Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program. Date: Tuesday, November 17, 2015



PS. I bet you anything you want that Maerki Baumann NEVER EVER disclosed this to their accountholders when opening an account and requiring full disclosure from the accountholders regarding KYC, AML, SOF, SOW, etc. What happened to KYB (Know Your Bank)?
These "people" sold out (read snitched on) ALL their clients to save their own skin from THEIR OWN wrongdoing.
Once a traitor, ALWAYS a traitor!
Caveat Emptor!

PSS. This is public information located on the US DOJ's website for the world to see: Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program


EDIT: I see that while I was composing this comment, most of you already knew that MB snitched in 2015.
My euphemistic question to all of you who knew but STILL bank with MB or recommend it is:
Why would you trust a convicted, self-admitted pedophile to babysit your infant children?

 

[JackAlabama]

Maybe it's part of their 2015 DEFERRED PROSECUTION AGREEMENT with the USDOJ!
Sort of like a Honey Pot
It is kind of like the corporate version on steroids of "SUBSTANTIAL ASSISTANCE, 5K1.1 MOTIONS, AND RULE 35 MOTIONS" for individuals."

For the skeptic & gullible members who still have hope in the goodness and fairness of "banksters," here's the source:
View attachment 6968


Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program. Date: Tuesday, November 17, 2015



PS. I bet you anything you want that Maerki Baumann NEVER EVER disclosed this to their accountholders when opening an account and requiring full disclosure from the accountholders regarding KYC, AML, SOF, SOW, etc. What happened to KYB (Know Your Bank)?
These "people" sold out (read snitched on) ALL their clients to save their own skin from THEIR OWN wrongdoing.
Once a traitor, ALWAYS a traitor!
Caveat Emptor!

PSS. This is public information located on the US DOJ's website for the world to see: Justice Department Announces Maerki Baumann & Co. AG Reaches Resolution Under Swiss Bank Program


EDIT: I see that while I was composing this comment, most of you already knew that MB snitched in 2015.
My euphemistic question to all of you who knew but STILL bank with MB or recommend it is:
Why would you trust a convicted, self-admitted pedophile to babysit your infant children?

oh thats even more interesting what you have found here

They run an spy ops on the account holders, not even a hidden one but its PUBLIC knowledge (just no one really cares to look out for).
Tbh I also didnt bothered to look this up but I don't nor would ever bank with MB due to above concerns.