Swiss Banks Divulging Customer Info?

Apparently some Italians selling arms to Libya are finding that their "confidential" Swiss accounts might not be as confidential as they thought:

Switzerland can provide legal assistance to Italian prosecutors investigating an alleged attempt by black market dealers to sell arms to Libya and Iraq, according to a court ruling released Tuesday.
An Italian citizen and a company alleged to have been involved in setting up the deal had asked the Swiss Federal Criminal Court in Bellinzona to block the release of their bank account details to Italian authorities.
The court dismissed their request.
Prosecutors in the central Italian city of Perugia have been investigating five Italians for illegally dealing in arms and allegedly giving hundreds of thousands of dollars in kickbacks to Libyan officials.
Italian authorities believe the group was working to sell some 100,000 AK-47 rifles to Iraq and a half-million assault rifles to Libya before police broke up the deals.

By: Brant