Fifth Amendment unavailable to prevent forced production of offshore bank account records *

USA - August 28 2012
On August 27, 2012, the U.S. Court of Appeals for the Seventh Circuit joined the Ninth Circuit in holding that the required records exception to the Fifth Amendment privilege against self-incrimination applies to records of foreign bank accounts.

---

Taxpayer who moved account from unnamed "Zurich-based bank" in 2009 to Wegelin Bank pleads guilty to failure to file FBAR and pays $2.8 million FBAR penalty *

USA - August 21 2012
An 83-year-old Massachusetts man pleaded guilty in federal court in Manhattan on August 20, 2012, to one count of willful failure to file an FBAR. 

---

IRS seeks comment on new FATCA forms; ISDA announces FATCA-driven change to Master Agreement *

USA - August 17 2012
The IRS issued a request for comment on two new proposed FATCA-related forms on August 15, 2012. 

---

U.S. and Germany tighten screws on Swiss banks *

Germany, Switzerland, USA - August 10 2012
The U.S. and Germany show no signs of relenting in their efforts to bring Swiss banks to heel.

---

California UBS clients sentenced to prison for hiding asssets in secret bank accounts around the world *

USA - July 31 2012
A husband and wife, Sean and Nadia Roberts of Tehachapi, Calif., were sentenced on July 31, 2012, to just over one year in prison for hiding millions of dollars in secret offshore bank accounts in Switzerland and other banks around the world. 

---