For centuries Switzerland's banking system included a heritage of secrecy. It was not until 1934, however, with the rise of the Nazis in Germany, that the Swiss put that heritage into law. During the 1930s many nations, including the United States, began to distinguish between deposit banks and investment banks. This trend toward specialization is still apparent in the U.S. where not all banks offer all financial services. A Swiss bank can offer deposits and checking, as well as be a stock broker, commercial lender, investment bank, and provide services in financial planning.
Swiss banks are extremely safe.
The entire Swiss financial industry is tightly regulated so that the solid reputation of their banks remains intact. The Banking Commission, for example, strictly supervises the banking industry. Swiss banks also face regular audits. The audit process is both comprehensive and meticulous. The first audit, which is required of every Swiss corporation, complies with the Swiss corporation law.