Swiss Banks Uncover More Accounts from WWII, But Suffers Sanctions by U.S. State and Local Governments

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Saturday, November 1, 1997
Author: 
Bruce Zagaris
Volume: 
13
Issue: 
11
458-460
Abstract: 
On October 13, 1997, Swiss banking officials announced that additional searches of their archives have produced 4,000 more unclaimed accounts belonging to foreigners before and during the Holocaust era. The City of New York and State of California are imposing sanctions against Swiss banks over their handling of the wartime accounts despite protests by the U.S. Department of State... [more]