Swiss Life, Switzerland’s biggest and oldest life insurance company, will pay more than $77 million to the US Treasury after admitting it helped US taxpayers dodge tax responsibilities through offshore accounts. In the face of enforcement action of this nature, Financial Institutions should ensure they have adequate policies and procedures in place to prevent the facilitation of tax offences.

https://www.justice.gov/opa/pr/switzerland-s-largest-insurance-company-and-three-subsidiaries-admit-conspiring-us-taxpayers