What’s no information worth?

250 Swiss Francs.  That’s what UBS nee Swiss Bank charged account holders if they did not want the bank to mail them account information.

“Trail Turns To ‘Secrecy’ At UBS,” Wall Street Journal, October 16, 2014 C3.  The bank is alleged to have assisted US taxpayers with avoiding US tax or hiding assets.

I guess it’s a red flag if someone doesn’t want a service that’s normally included in the price.  Apparently, it’s worse if you charge someone for the convenience of getting their information.  Profiteering, or maximizing profit opportunities?  Culture at the bank?

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Filed under Board, Business Case, Compliance, Culture, Culture, Definition, Governance, Information, Privacy, Risk, Value

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