On March 30, DOJ announced that BSI SA, one of the ten largest private banks in Switzerland, was the first bank to reach a resolution under DOJ’s Swiss Bank Program, agreeing to pay a $211 million penalty.  The program provides a path for Swiss banks that believe they may have committed tax-related criminal offenses in connection with undeclared U.S.-related accounts to resolve potential liability.  In exchange for making a complete disclosure, cooperating in treaty requests, closing the accounts of customers not in compliance with U.S. reporting obligations, and paying an appropriate penalties, banks that participate in the program are eligible for a non-prosecution agreement.  Banks already under criminal investigation, as well as all individuals, are excluded from the program.  In his remarks, Acting Associate Attorney General Stuart F. Delery noted that DOJ’s investigation of Swiss banks had led them to change the way they did business, resulting in increased compliance measures.  Acting Assistant Attorney General Caroline D. Ciraolo, in her remarks, noted that individuals who have not disclosed their offshore accounts may still be eligible for a voluntary disclosure, but that time was running out.   DOJ Press Release