Interesting. Some people here in Switzerland claim that the heavy crackdown on Swiss banks from the US was just a tactic to "steal" the clients for them selves and make the US the number one tax haven.
Thought we clearly still have loop holes outside the banks that enable such crookery via lawyers and private consultants. Those will probably also get cracked down on but will the US do anything about their issues?
FATCA was supposed to be a two way data exchange. Switzerland has been harassing its citizens to get this data for the US but the US has delivered nothing in exchange. How many Swiss citizens are hiding money in the US from Swiss authorities?
When you open a bank account in the US do you have to swear that you are not a Swiss citizen? I doubt it. We, a sovereign state have to swear we are not US citizens. I guess that is the power and control the all mighty dollar has over Swiss banks.
