It is an exciting time for IRS investigators who are now able to examine the UBS AG accounts of over 4,500 U.S. citizens suspected of hiding assets offshore, according to John Everett, a licensed criminal investigator and certified fraud examiner based in Agoura Hills, California.
U.S. prosecutors and state regulators fined Bank Hapoalim, Israel's largest lender by assets, $874 million Thursday after accusing its Swiss private banking subsidiary of helping hundreds of clients evade billions of dollars in U.S. taxes for more than a decade.