This is juicy. Of course there are now many countries available to hide money and avoid paying taxes. (Let's invade the Caymans?)

In UBS Will Disclose Names, Pay $780 Million to End U.S. Tax Case, Bloomberg has some real cloak and dagger details:

The bank’s Swiss advisers traveled to the U.S. a few times a year to solicit customers at art shows, as well as yachting and other sporting events, the SEC said. To conceal their activities, advisers carried encrypted laptop computers and got training from the bank on avoiding detection, the agency said.

UBS settled the probes after a series of disclosures that followed the guilty plea last June of a former private banker, Bradley Birkenfeld.