So it's certainly not good enough to get around the banking secrecy laws in the dozen countries involved.

Income earned from bank accounts is not taxed, and secrecy laws are similar to those in Switzerland.

It is the first time anyone has been charged under a new secrecy law enacted after the September 11, 2001, attacks.

Influential Swiss bankers are fighting hard to keep the secrecy laws.

Under the deal, the 12 union members that do not have secrecy laws will share data about the foreign deposits of one another's citizens.

They will be angry to learn that foreign governments, through their secrecy laws, have been collaborators.

Advocates of new secrecy laws say legislation can have a more lasting effect than an executive order.

They would not give any further details on the scope of the inquiry, citing Swiss secrecy laws.

"You know all this is going to make us subject to the secrecy laws," Stan said dryly.

And even the Swiss have been known to waive the secrecy laws under international pressure.