Presently, people around the world are looking at each other and wondering why it is one country or state has reduced “lockdown” restrictions while others have not; and some are using the example of other countries to lobby for change.
The same thing happens in the business of compliance, with mistakes being made when people determine to hide behind the misconduct in the numbers as relationship managers posit “Bank V is doing it, so we should do it, too.” A recent example is industrialized tax evasion that took hold in Switzerland, with many, including Bank Hapoalim, joining in and paying a hefty price for its tax evasion scheme. U.S. authorities have been robustly pursuing banks in Switzerland that marketed secret accounts and tax evasion to U.S. citizens.
