As more and more Swiss banks settle their tax dispute with the US under the US Tax Program, experts warns that it could mean trouble for the undeclared US clients and their bankers and advisers.

Acting Assistant Attorney General Caroline D. Ciraolo said that they have ‘identified and are investigating individual accountholders who willfully concealed their foreign accounts, as well as domestic and foreign facilitators who helped US taxpayers dodge their obligations’ reported the Wall Street Journal.

The Journal added that ‘they are taking their time and putting together cases on individuals,” said Jared Dwyer, a former federal tax prosecutor, who predicts a spike in cases against individuals over the next year and a half’.

The disclosed data will also allow authorities to follow the money trail to other offshore jurisdictions.