Between 2002 and 2006, Switzerland returned around $93 million of illicit funds to Peru.
Copyright 2020 The Associated Press. All Rights Reserved.
The Swiss government has signed an agreement with Peru to return $16.3 million (CHF14.8 million) originating from acts of corruption in the Latin American country.
The move is part of the Swiss government’s asset recovery strategy, which involves freezing, confiscating and returning stolen assets.
The government said in a statementExternal link on Wednesday that the agreement was signed with Peru and Luxembourg on the restitution of illicitly acquired assets and that the funds would be used to strengthen the rule of law and fight corruption in Peru. Switzerland will return $16.3 million while Luxembourg will return another €9.7 million (CHF10.5 million).
“The trilateral agreement is a good example of the fact that Switzerland does not tolerate illicitly acquired assets of politically exposed persons in its financial centre,” said Foreign Minister Ignazio Cassis.
Clean up its image
By using the funds to strengthen the rule of law and contribute to the fight against corruption and impunity, the government says the funds will benefit the population in Peru.
Switzerland has been trying to clean up its image as a finance centre for illicit assets of politically exposed persons.
In January, Switzerland agreed to repatriate $1.3 million in seized assets to Turkmenistan, money which will be used for the purchase of medicine. Between 2002 and 2006, Switzerland returned around $93 million of illicit funds to Peru
Popular Stories
More
Swiss oddities
Mennonite movement turns 500 in Zurich, where it all began
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
This content was published on
The Fête de l'Epouvantail (scarecrow festival) is celebrating its 30th anniversary and returns to Denens in canton Vaud for its seventh edition from July 10-20.
This content was published on
A 35-year-old man has died in a work accident at the valley station of the Heimwehfluh toboggan run in Matten near Interlaken, canton Bern.
This content was published on
The Swiss embassy in Tehran re-opened on Sunday after being closed on June 20 owing to the unstable situation in the country.
This content was published on
Queen Maxima of the Netherlands and her youngest daughter Princess Ariane attended the Netherlands' women's European Championship football match against Wales in Switzerland on Saturday.
Swiss want to better protect military airfields from spying
This content was published on
Swiss Defence Minister Martin Pfister says he wants to better protect Swiss military airfields against espionage activities.
Man charged with flying drone at women’s Euro 2025
This content was published on
A man flew a drone around the venue on Wednesday evening during the first match of the Women's EURO 2025 in St. Gallen. The 30-year-old violated the absolute ban on flying during match days. He was reported to the police.
More than 250 Swiss companies sign CO2 reduction initiative
This content was published on
A total of 257 companies from Switzerland have signed up to the Science Based Targets Initiative (SBTi). In doing so, they are committing to CO2 reduction targets that are compatible with the Paris Climate Agreement.
Swiss accident prevention group sees federal targets at risk
This content was published on
The Swiss government's target for accident figures is at risk, reckons Mario Cavegn, member of the executive board of the Swiss Council for Accident Prevention.
Feminicide: Swiss justice minister calls for electronic monitoring
This content was published on
Swiss Justice Minister Beat Jans has called for electronic monitoring and an ankle bracelet warning system for perpetrators of violence against women.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss return seized funds to Turkmenistan
This content was published on
Switzerland is repatriating $1.3 million (CHF1.26 million) in seized assets to Turkmenistan, money which will be used for the purchase of medicine.
UN expert: Switzerland must do more to combat ‘dirty money’
This content was published on
A UN expert has called for tougher sanctions and other measures to keep so-called ‘dirty money’ from entering Swiss financial markets.
Switzerland agrees terms for returning confiscated Uzbek assets
This content was published on
Switzerland has signed a deal with Uzbekistan with a view to the restitution of confiscated assets to the central Asian nation.
This content was published on
The idea is to support the public authorities in Peru in introducing measures to achieve efficient governance and to prevent corruption. “It is a ground-breaking endeavour for us, as it is not only the only office in Latin America; it is the first foreign subsidiary anywhere in the world,” said Gretta Fenner, the institute’sExternal link…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.