Le Temps stresses the hidden costs for Swiss banks of negotiating with the US and participating in the US Tax Program. Besides the fines, the Swiss banks involved in tax dispute with the US have lawyers’ fees and costs associated with treatment of the client data. These fees can reach several millions.

Martin Naville, President of the Swiss-US Chamber of Commerce estimates that the indirect costs for the banks listed in Category 2 of the US tax regularization program may be at least at the level of the fine itself.