Are days of secret bank accounts numbered?

ZURICH: The days of secret bank accounts are numbered for US taxpayers and European tax dodgers should also watch out after the United States and Swiss bank UBS AG agreed to settle a tax evasion case.

Details of the deal were not made public after the settlement was initialed on Wednesday.

But tax experts expect the settlement to involve the disclosure to US tax authorities of thousands of names of US residents suspected of using secret Swiss accounts to conceal assets, albeit without formally breaching Swiss bank secrecy.