Bank Data Turned Over to Wikileaks Likely to Spur Tax Haven Investigations

By Brian Monroe

Publicity over the expected disclosure of private banking data on 2,000 prominent clients of Bank Julius Baer and at least two other financial institutions could spur tax authorities to act more quickly on information they likely already have, say analysts. The data, given to Wikileaks founder Julian Assange by former Julius Baer senior executive Rudolf Elmer during a Monday press conference in London, is expected to show tax evasion and other financial crimes by the clients, including celebrities, politicos and companies. Wikileaks, an online platform for whistleblowers, could publish the documents within weeks. While the leak is not the first...