Meanings of undeclared accounts in English

Clearing the books of undeclared accounts has been no small task.

France, Britain and Austria have also given taxpayers the chance to disclose undeclared accounts.

HSBC admitted that some individuals took advantage of bank secrecy to hold undeclared accounts.

Meanwhile, Swiss banks have spent years attempting to clear their accounts of undeclared accounts under massive international crackdowns on tax evaders.

BSI's fine corresponds to around 7.5 percent of this peak U.S. asset base of declared and undeclared accounts.

The French Socialist government of Francois Hollande is in crisis after revelations that a former budget minister held undeclared accounts in Switzerland and Singapore.

Although there are numerous legitimate reasons to have a Swiss bank account, in some cases individuals took advantage of bank secrecy to hold undeclared accounts.

In total, the maximum value of the assets in the undeclared accounts belonging to their clients was greater than $600 million, prosecutors said.

Prosecutors said Credit Suisse had around 22,000 U.S. client accounts worth around $10 billion, which included both declared and undeclared accounts.

The subcommittee said UBS had an estimated 19,000 " undeclared accounts" for U.S. citizens hiding $18 billion in assets from the Internal Revenue Service.

Late on Friday, Receita launched a broader investigation to determine whether Brazilians were involved in opening over 6,600 undeclared accounts with HSBC's Swiss private bank.