Game changer: Swiss banks ditch secrecy

Switzerland, the world’s largest offshore wealth center, worth an estimated $2.2 trillion in assets, has signed an agreement to share financial information with nearly 60 other countries, which could completely change the country’s financial landscape.

The country has made a giant leap towards banking transparency after it signed a convention with the Organization for Economic Cooperation and Development (OECD) agreeing to exchange data with 60 member countries.