A former French budget minister will appear in court on charges of tax fraud and money laundering that forced him to dramatically resign three years ago in the first political scandal under President Francois Hollande. The trial of Jerome Cahuzac, once a champion in the fight against tax evasion, starts Monday afternoon in the main […]

Dozens of banks signed amnesty agreements disclosing tactics, providing prosecutors with valuable information At a rate of one or two a week, Swiss banks are doing what was once unthinkable: revealing to the world how they helped wealthy Americans cheat on their taxes. Once bastions of secrecy, 41 Swiss banks signed amnesty agreements this year […]

Financial adviser who arranged fraudulent mortgages for a heroin dealer ordered to pay back more than £4m – The investigation also identified offshore bank accounts held in Switzerland and Jersey, and an offshore company based in Jersey that owned 15 rental properties Adeel Mirza, a 45-year-old financial adviser who pleaded guilty to 10 counts of […]

Introduction As at today (Sept 2015) Tax offences (including tax fraud) do not constitute felonies.(2) Therefore, the proceeds (or rather, unlawful savings) of tax offences cannot form the object of a money laundering act. From January 1 2016 servicing tax fraudsters may expose financial intermediaries in Switzerland to prosecution for money laundering. With the entry […]

Swiss authorities have frozen millions of dollars linked to a state-run Malaysia investment fund engulfed by the biggest financial scandal in the country’s history. Swiss authorities probing alleged corruption at Malaysia’s state investment fund have frozen funds worth tens of millions of dollars.  The Office of the Attorney General has frozen the money held in […]

Key facts Swiss attorney general says ‘53 suspicious banking relations’ uncovered Investigation into 2018 and 2022 World Cup bids could take years Fifa’s Sepp Blatter and Jérôme Valcke not being ruled out of investigation Read more Swiss investigators are looking into 53 possible cases of money laundering and 104 incidents of suspicious activity in Swiss […]

On 29 April 2015 the Swiss government, the Federal Council in Berne, announced that the revised Financial Action Task Force (FATF) recommendations of 2012 will come into effect in two stages. Some of the recommendations will apply as of 1 July 2015, while some will apply from 1 January 2016. The main focus of the […]

On 29 April 2015 the Swiss government, the Federal Council in Berne, announced that the revised Financial Action Task Force (FATF) recommendations of 2012 will come into effect in two stages. Some of the recommendations will apply as of 1 July 2015, while some will apply from 1 January 2016. The main focus of the […]