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> Furthermore, Elena owned a company registered in the Marshall Islands and controlled two bank accounts in Switzerland.

If airlines could be fooled, you'd think at least Swiss banks would do some KYC



The whole reason Swiss has a banking reputation is that it didn't do KYC. At all.


Up until the war on terror and the US no longer accepting that excuse. They do extensive KYC now.


GP's tenses are both correct. It has that reputation today, as a lingering effect of how it didn't pry historically. The industry is hanging on for the time being, probably thanks to network/incumbent effects, inertia, and some limited observance of the old ways, for clients whose countries will allow it.


there is the "are you a US citizen or a green card holder" question on every application form. probably there are two separate workflows depending on the answer.


for US citizens


Swiss banking system changed a lot during the last 15 years.




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