The US Department of Justice (DoJ) is seeking ‘total cooperation’ from Swiss banks who registered under Category 2 of the US Program. The draft of the Non-Prosecution Agreement provided to Swiss banks request that the latter provide total cooperation to the DoJ in order to escape prosecution in the tax dispute.
Neue Zuercher Zeitung (NZZ) got hold a the so-called model NPA and reports that the requirements would also apply to parent companies, subsidiaries, management, workers and external advisors. This total cooperation would, in addition, not only apply to the DoJ and the Internal Revenue Service (IRS), but also to anyone, even foreign law enforcement agencies, that the DoJ supports in its investigations the NZZ says.
Failure to follow any of the terms of the agreement would render it void, and the bank could risk prosecution from the DoJ.