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UBS says 47,000 Americans had accounts

UBS says 47,000 Americans had accounts

UBS AG now says it had about 47,000 accounts held by Americans who didn't pay U.S. taxes on their assets, but Switzerland's biggest bank isn't providing the names of any more of them to the U.S. government.
UBS official Mark Branson confirmed the figure of 47,000 accounts as of Sept. 30, at a Senate hearing exploring the fight over secrecy and alleged tax evasion.
Branson says nearly all the accounts have been closed.
UBS has accepted responsibility for helping Americans hide assets from the U.S. government and turned over the names of about 300 U.S. clients. But the bank is not giving the Internal Revenue Service, the federal tax collection agency, the names of all U.S. citizens who maintained secret accounts with the bank.