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G20 urges global community to end banking secrecy

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(Globalpost/GlobalPost)

The Group of 20 economic powers on Friday urged the global adoption of standards for sharing bank account information in an effort to fight tax evasion and curtail banking secrecy.

The G20 said they "strongly encourage" all countries to sign on to a commitment to the automatic exchange of banking information "which is expected to be the standard," in the group's strongest endorsement yet of a move that takes aim especially at tax havens.

pmh/sst

http://www.globalpost.com/dispatch/news/afp/130419/g20-urges-global-community-end-banking-secrecy