All Switzerland articles

  • Safe bank
    Article

    Analysis: The problem with keeping a secret

    2020-05-11T14:10:00Z

    You can’t hide behind the numbers, as numerous banks, including Bank Hapoalim, found out recently when rampant tax evasion took hold in Switzerland.

  • Fines
    Article

    Study: Post-financial crisis fines against financial institutions hit $36B

    2020-02-11T19:39:00Z

    Global fines and penalties against financial institutions hit $36 billion last year, as ramifications from the financial crisis continue to reverberate throughout the financial services industry, according to a new report.

  • Blockchain
    Article

    FINMA publishes AML guidance on blockchain

    2019-09-03T15:24:00Z

    The Swiss Financial Market Supervisory Authority has published new guidance on how it applies AML rules to the financial services providers it supervises in the area of blockchain technology.

  • HeadInSand
    Article

    Swiss bank ignores compliance officer; pays $10.7M for tax evasion

    2019-08-06T17:07:00Z

    A Swiss-based private bank reached a $10.7 million settlement and entered into a non-prosecution agreement with the U.S. Department of Justice for committing tax evasion after recommendations made by its compliance officer went ignored.

  • Blog post

    Swiss regulator sanctions Gazprombank in wake of Panama Papers

    2018-02-02T13:45:00Z

    Following revelations from the Panama Papers, Swiss regulators identified serious shortcomings in anti-money laundering processes regarding private clients at Gazprombank Switzerland and, thus, has banned it from accepting new private clients until further notice.

  • Article

    Lost in fraud translation

    2017-02-22T11:00:00Z

    Paul Hodgson explores the case of Jacques de Groote, the 90-year-old former CEO of the World Bank and director of the International Monetary Fund, who has spent the last decade in court battling allegations of fraud and corruption.

  • Blog post

    Swiss Authorities to Unveil New ‘Lex-FIFA’ Anti-Corruption Reform

    2015-09-16T09:45:00Z

    A new draft anti-corruption law in Switzerland, named after scandal-ridden football organization FIFA, will treat bribery as a criminal offence and allow Swiss authorities to launch corruption probes against the country’s international sporting federations without tip-offs from inside the organization in question. Some members of Swiss Parliament argue that the ...