Swiss bank resolutions: four banks fined more than US$25 million

The US Department of Justice announced on 29 October that four Swiss banks, Luzerner Kantonalbank, Habib Bank AG Zurich, Banque Heritage and Hyposwiss Private Bank Genève, have reached resolutions under the department’s Swiss bank programme to pay combined penalties of more than US$25 million for allowing clients to evade tax in the US.