Tax Haven Bank Secrecy Tricks

Senator Carl Levin (D-MI) revealed a list of “secrecy tricks” he said the UBS
bankers used to carry out their tax haven schemes. They include:
• Code Names for Clients
• Pay Phones, not Business Phones
• Foreign Area Codes
• Undeclared Accounts
• Encrypted Computers
• Transfer Companies to Cover Tracks
• Foreign Shell Companies
• Fake Charitable Trusts
• Straw Man Settlors
• Captive Trustees
• Anonymous Wire Transfers
• Disguised Business Trips
• Counter-Surveillance Training
• Foreign Credit Cards
• Hold Mail
• Shred Files
Prepared by the U.S. Senate Permanent Subcommittee on Investigations, July 2008.