If you are one of the richest people in the world and have been hiding your money in Switzerland, you may have to consider putting your money elsewhere.

The Swiss parliament is poised to pass the UBS bill in early June; if the bill passes, it will mark a total change for the Swiss Banking industry as the bill will try to decrease the number of tax evaders who have Swiss bank accounts.

As of last year, SBC gave banking details for roughly 4,500 rich American account holders and was fined $780 million for allowing the account holders to avoid paying taxes. Although tax evasion is a big crime in the United States, it is not a crime in Switzerland.

As this article points out, American companies are a big force in Switzerland and employ about 70,000 workers there, which is nearly 1% of Switzerland's entire population. I am guessing that this was more than a significant factor in the reasons behind  the proposed legislation.

Currently, Switzerland has treaties with several countries including the United States which relate to getting taxes back to their rightful governments and is just now disputing the fine against the bank.

For the Swiss, it's a dicey situation because of the international pressure and their need for economic interaction with foreign governments. Just because they are neutral country, it does not mean that they wish or should be isolationist. On the other hand, 12% of the Swiss governments' revenue comes from the financial sector, which will surely take a big hit once and if the bill is passed.

As an American citizen, I am angry that the Swiss banks (and other offshore banks) are allowed to play with money that is owed to the US government considering the fact that we are both in debt and running our country at a defecit. I'm also of the opinion that the rich tax-evaders with offshore accounts are just as criminal in their actions as any petty scale criminals- the only difference being of course that their unpaid taxes could probably fund quite a few government programs that will have to be cut.

Of course, none of this will matter to the Swiss lawmakers who will have to gauge the relative interests of their constituents and their relationships with pretty much every developed country in the world. Just since 2007, foreign investment in terms of securities and Swiss custody accounts was reduced from 1 trillion Swiss francs to 621 billion Swiss Francs.