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US officials have settlements with four more Swiss banks to lift the total fines in the two-year disclosure program to more than $1 billion from 75 banks.
With the resolutions "under the Swiss Bank Program, the department has reached agreements with 75 Swiss banks, imposed penalties in excess of $1 billion, and secured voluminous and detailed information regarding the illegal conduct of financial institutions, professionals and account holders around the world", said Caroline Ciraolo, acting assistant attorney general in the Department of Justice's tax division.
The program, started in August 2013, allows non-prosecution agreements for banks that agree to cooperate with probes, pay fines for tax-related criminal offences and provide account-specific information on US taxpayers.