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Switzerland, officially the Swiss Confederation, is a landlocked country located at the confluence of Western, Central and Southern Europe. It is bordered by Italy to the south, France to the west, Germany to the north and Austria and Liechtenstein to the east. Switzerland is geographically divided among the Swiss Plateau, the Alps and the Jura; the Alps occupy the greater part of the territory, whereas most of the country's population of 8.7 million are concentrated on the plateau, which hosts the largest cities and economic centres, including Zürich, Geneva and Basel.
Banking in Switzerland dates to the early eighteenth century through Switzerland's merchant trade and has, over the centuries, grown into a complex, regulated, and international industry. Banking is seen as emblematic of Switzerland. The country has a long history of banking secrecy and client confidentiality reaching back to the early 1700s. Starting as a way to protect wealthy European banking interests, Swiss banking secrecy was codified in 1934 with the passage of the landmark federal law, the Federal Act on Banks and Savings Banks.
The Swiss people (die Schweizer, les Suisses, gli Svizzeri, ils Svizzers) are the citizens of the multi-ethnic Swiss Confederation (Switzerland) regardless of ethno-cultural background or people of self-identified Swiss ancestry. The number of Swiss nationals has grown from 1.7 million in 1815 to 8.7 million in 2020. More than 1.5 million Swiss citizens hold multiple citizenship. About 11% of citizens live abroad (0.8 million, of whom 0.6 million hold multiple citizenship). About 60% of those living abroad reside in the European Union (0.