Video: How to Open Secret Bank Accounts

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Switzerland and the Caribbean are popular locations for the wealthy to open secret bank accounts to hide their money. Find out how Switzerland keeps financial information secure with help from a registered financial consultant in this free video on secret bank accounts.

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Video Transcript

This is financial advisor Patrick Munro talking about how to open secret bank accounts. Basically secret bank accounts have been the realm of the wealthy for many many years. Started in Europe and still continues to be in Europe, also in the Caribbean as well. It's a way to hide money from governmental sources that would want to tax that money. Most notably, the most famous domicile for secret bank accounts is in Switzerland. And US government authorities have identified through a major brokerage house rich individuals that have salted money away. Under Swiss law though for as long as public records have been kept, the Swiss are very very proud of their confidential financial history. It's a place where individuals are secure in their financial record keeping. And therefore the American government is now putting pressure, most notably undue pressure on a independent country of Switzerland to give up the names of individuals that have salted their money away. This stress test will come under test going forward, and many people believe that the United States will have to back off and realize that it is a sovereign issue and that they cannot press the issue going forward. The IRS' goal is to severely punish those individuals that have salted money outside of the country and that's what's driving this situation. This is financial advisor Patrick Munro talking about how to open secret bank accounts.

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How to Open Secret Bank Accounts

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