Switzerland eases banking secrecy

Switzerland, the world\'s largest offshore financial centre, has agreed to accept concessions on bank secrecy.



However, while it will now abide by international rules on bank data sharing, it said it would only respond to concrete and justified requests.



The government added that it would still protect banking customers from unjustified watching from abroad.



Switzerland\'s announcement came after it had risked being added to a global blacklist of uncooperative tax havens.



It is estimated that Switzerland\'s banks hold US$2T of global wealth held abroad.