Crackdown on Offshore Tax Evasion Continues

The New York Times reports that Rudolf M. Elmer, a former Swiss investment company employee, is revealing company secrets by posting documents on Wikileaks and speaking to various governments:

Lawyers and Congressional investigators who have begun to review Mr. Elmer’s claims say that his internal bank and client documents provide fresh ammunition for American authorities as they take their crackdown on offshore tax evasion beyond UBS to clients of other banks. 

Although some of Elmer’s documents may have been forged, “his actions are ‘symptomatic of a generalized breakdown of bank secrecy.'”  Lynnley Browning, Swiss Banker Blows Whistle on Tax Evasion, NY Times, Jan. 18, 2010.