In Which We Learn That The CIA Was Instrumental In Breaking The Swiss Bank Secrecy Code

Tyler Durden's picture

Hidden in the Edward Snowden story is this gem exposing just how it was that the story of Swiss bank secrecy was broken. Guess who was at the bottom? None other than the US Central Intelligence Agency. We are confident any US citizens who recently have had to shut down their Zurich, Geneva, Bern, Zug or Lugano bank accounts at a sizable loss of course, not to mention countless Swiss bankers currently facing prosecution, as well as various Swiss citizens will find it all quite fascinating.

By 2007, the CIA stationed him with diplomatic cover in Geneva, Switzerland. His responsibility for maintaining computer network security meant he had clearance to access a wide array of classified documents.

 

That access, along with the almost three years he spent around CIA officers, led him to begin seriously questioning the rightness of what he saw.

 

He described as formative an incident in which he claimed CIA operatives were attempting to recruit a Swiss banker to obtain secret banking information. Snowden said they achieved this by purposely getting the banker drunk and encouraging him to drive home in his car. When the banker was arrested for drunk driving, the undercover agent seeking to befriend him offered to help, and a bond was formed that led to successful recruitment.

Nasturally, that was the covert way of confiscating deposits. The less covert way was recently exposed in Cyprus. In the future, look for synergies between the two.