Talk:Gold key

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This whole article is a joke! Obviously you got your "informantion" from third class Hollywood movies. This Gold Key thing would be illegal under Swiss Banking laws. Why? First, banks are required - always - to identify their clients. Second, the bank has to monitor (withing specified limits) the transactions on the accounts so as to prevent money laundring. Folks believe me - even if James Bond and Robert Ludlum tell you otherwise - there are no anonymous bank accounts in Switzerland. It might be that the identity of the account holder is known only to a limited number of employees, but opening an account without having one's identity established - no way. If you want such thing, open a trust account under Jersey or Bahamas law. By the way, the picture shows an ordinary gold ingot.

This article seems to be either total fabrication, or based on fiction. If User:Swiss Banker Can't provide some sort of reliable references for it, I'm going to change it back to a redirect to Gold Key Comics. Tom k&e 12:50, 30 September 2005 (UTC)

I think the article can be left as is. Please visit the UBS Switzerland website and type in "Gold Key" in their search toolbar. They seem to know about "Gold key" Although 13:15, 1 October 2005 (UTC) --- You type a term containing the words “key” and “gold” in the search field of a bank and – surprise – you got lots of hits. In the concrete case of UBS most results refer to the numismatic section, gold trade or “Gold” credit cards. There is no “Gold Key” service in the sense of having anonymous accounts.

The Swiss Criminal Code, article 305 bis (money laundering law), prohibits “any action which prevents the establishment of the origin, locating or confiscation of funds of which it is known or can be suspected to stem from crimes.” In order to comply with this legal requirement the Swiss Bankers Association (http://www.swissbanking.org/en), the self-regulating body of the Swiss banks, adopted and extensive body of rules and regulation to prevent money laundering. A key requirement in this endeavor is the identification of customers and monitoring of account transactions. Here’s an excerpt from the “Agreement on the Swiss banks’ code of conduct with regard to the exercise of due diligence” of the Swiss Bankers Association. The full text can be downloaded in English from the aforementioned website:

Art. 2 Verification of the contracting partner’s identity

1) The banks undertake to verify the identity of the contracting partner when establishing business relations with said partner.

2) This regulation applies to:

– opening of accounts or passbooks; – opening of securities accounts; – entering into fiduciary transactions; – renting of safe-deposit boxes; – entering into management agreements for assets deposited with third parties; – the execution of transactions with securities, currencies as well as precious metals and other commodities exceeding the amount of CHF 25,000. – cash transactions exceeding the amount of CHF 25,000.

More information on Swiss banking regulation can be found on the website of the Swiss Federal Banking Commission which is the official supervisory authority of the financial sector in Switzerland (http://www.ebk.admin.ch).

It is obvious that this “Gold Key” thing is entirely impossible in reality.

Gentleman this is an interesting discussion. I think further research is justified.

Personally I just went to the site mentioned above (don't want to give them free publicity), and a quick search turns up both "Golden Key" and "Key Gold". I can't get further without being a customer, but I will now take a look at some of their competitors and make some calls next week, to see what further info can be found.

Let's not be too hasty!

Has anyone here read the literary references mentioned? They seem to be quite legit. If so, one could always start the article with words like According to the famous works of fiction, The Da Vinci Code, a Gold Key is...... and maybe finish the article off with a comment that recent legislation in Switzerland would make such an anonymous account illegal.

Watercolour 20:06, 1 October 2005 (UTC)

Watercolour is right, the article needs amending, but not deleting. it is corr4ect within a literary context.

(my name is Foxypub, but not sure how to put it in like you guys...) foxypub 23:06, 2 October 2005 (UTC)

I have modified the text of the article to indicate that gold keys exist in fiction, such as cold war spy novels, but that in today's world, Swiss Bankers must know the identity of their customers.

Although 23:55, 2 October 2005 (UTC)

I added some references and tried to make it a little more factual. Still could use some work though. It needs some more rewrites. Let me know what you think. --Tigereye7 (talk) 22:13, 25 September 2008 (UTC)

With a few more updates in, I think we are ready to remove the call for references and worldwide view statement. I think this covers the bases pretty well now. Tigereye7 (talk) 01:22, 1 March 2011 (UTC)