The Secretive World of Swiss Banking: Unraveling a Global Phenomenon Switzerland's banking secrecy laws have been shrouded in mystery for decades, providing a safe haven for individuals and corporations to hide their assets from prying eyes.
This secrecy has its roots in the early 20th century, when Switzerland became a refuge for wealthy Germans fleeing Nazi persecution during World War II.
The Origins of Secrecy: How Switzerland Became a Safe Haven Switzerland's adoption of banking secrecy laws in the 1930s was driven by the threat posed by Nazi Germany.