Secret bankers to Nazis and looters

The secrecy of Swiss banks dates back to the middle ages and was used to hide wealth by many of Europe's dynasties and the Vatican, even though Switzerland had embraced Protestantism.

Secrecy became official Swiss Government policy during World War I and was made law in 1934.

Swiss financiers have faced criticism for destabilising democracy during the last 100 years. In 1923, Adolf Hitler visited Zurich to raise money for his party, and was said to have met bankers at the famous Hotel St Gotthard.

Swiss banks were used by the Nazis to stash looted gold. In 1998 an independent panel of experts found Swiss banks were guilty of accepting Nazi deposits, even though they knew those deposits involved theft.

Up to 19 Swiss banks, including Credit Suisse, were used by corrupt former Nigerian ruler Sani Abacha, who looted US$4.2 billion ($8.35 billion) from his country.

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