The office was able to process 4,074 of these reports last year, and forwarded about half (2,024) to the law enforcement agencies, as it stated in its annual reportExternal link published on Thursday.
By the end of 2019, there were still 6,095 suspicious cases – including thousands from previous years – awaiting processing. This is about one fifth more than at the end of 2018.
114 suspected terrorism cases
The total amount of assets reported under suspicion of money laundering in 2019 amounted to CHF12.9 billion ($13.2 billion) as of November 22, when the office switched to a new internal data system.
As in previous years, these assets originated mainly from suspected fraud or corruption offences. Almost all reports were made by banks or payment service providers. In contrast to the banks, the number of reports from asset managers, trustees, lawyers and notaries has not increased in recent years.
The office received 114 reports of suspected terrorist financing (down from 132 in 2018). Only 13.4% of these reports were forwarded to the judicial authorities. In more than three quarters of the cases, the reports were triggered by newspaper reports (35%), transaction monitoring (24%) or information from third parties (19%).
Swiss government proposes overhaul of money-laundering laws
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The Federal Council (executive body) proposed on Wednesday a set of legal amendments External linkto meet international standards in the fight against money laundering and terrorism financing. It also made recommendations regarding due diligence requirements for Swiss-based associations active abroad, as well as the traders of precious metals and stones. Lawyers and notaries in the spotlight The…
University students in Switzerland join Gaza protest wave
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Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
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TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
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The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
University of Lausanne calls for end to pro-Palestine sit-in
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The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
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China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
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A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
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The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
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