Skiplink Navigation

Main Features

PostFinance fined for money laundering scam

PostFinance, the financial services arm of Swiss Post, has been fined SFr250,000 ($283,000) for failing to detect a money laundering scam.

It is the first time a Swiss financial institution has been sanctioned under money laundering laws which require financial services to investigate the origins of suspicious money transfers.

The case dates back to February 2005 and a cash transfer of SFr4.6 million made to a PostFinance account held in the name of a director of a Dutch investment company.

Although PostFinance had verified that the account was not blocked, it did not conduct sufficient checks on the origins of the money, the Administrative Court of canton Solothurn ruled.

In fact, the money belonged to two clients who had deposited SFr5 million with the Dutch investment company the previous day. The money has never been recovered.

PostFinance announced it would appeal the decision. and agencies


Neuer Inhalt

Horizontal Line

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.

Click here to see more newsletters

WEF 2018

WEF Teaser 2018