HISTORY OF SECRECY

Switzerland is known for its anonymous accounts which can be used to facilitate money laundering and tax evasion

Unlike regular accounts, Swiss ones use numbers not names

Historically it has meant that wealthy individuals can hide money they have funnelled away from the authorities

In one case, it was claimed a banker smuggled diamonds in a tube of toothpaste

UBS is embroiled in an £11bn money laundering case brought by French authorities

Efforts to crack down mean banks now have to share account details with tax authorities in other nations