Bank secrecy

Swiss bank secrecy is a professional confidentiality duty owed by banks and certain financial institutions regarding client relationships and information. It remains relevant in civil and commercial dealings, but it is not absolute. Disclosure may be required or permitted under anti-money-laundering rules, criminal proceedings, supervisory law, sanctions, tax reporting and international assistance or automatic exchange regimes. The duty protects privacy, not unlawful conduct. Banks must balance confidentiality with documentation, reporting and cooperation obligations, and breaches may have contractual, regulatory and criminal consequences.