US ambassador lauds Swiss role in fight against terrorism

Mercer Reynolds says Switzerland has done as much as it can in the fight against terrorism swissinfo.ch

The new American ambassador to Switzerland, Mercer Reynolds, has heartily endorsed Switzerland's efforts to combat terrorism by investigating suspected funding sources and seizing assets.

Reynolds, who formally took up his post on September 11, has monitored the fight against financial crime and the search for possible terrorists who may reside in or who may have transited through Switzerland. “The U.S. is extremely pleased with this country’s efforts,” said Reynolds.

“The Swiss are at the forefront in fighting the financial side of international terrorism. They formed a task force to deal with terrorism-related issues, and the results are very dramatic in terms of what has been achieved.”

For the American ambassador, there was never any doubt that the search for terrorist funds would be successful.

“Thirty-five per cent of the world’s trans-national wealth is in Switzerland,” he told swissinfo. “It’s not surprising to find money here that supports bin Laden’s efforts.”

Accounts frozen

According to Reynolds, over $20 million (SFr32.82 million) worth of assets and over 60 accounts have already been frozen. “I’m certain there’s more to come because of Switzerland’s capacity to act immediately and to seize assets before any public notice is given.”

“The authorities have done everything they can do within the limits of Swiss law to fight terrorism,” the ambassador told swissinfo. “They’re obviously not going to send troops to assist the U.S. military in Afghanistan, but in terms of fighting financial crime, seizing assets, uncovering terrorist cells here, I think they have done an admirable job.”

Switzerland’s role in the search for terrorist funds runs contrary to popular belief abroad. “There is a myth that Switzerland is a haven for money launderers, but this country is a precursor in setting up regulations to combat laundering,” said Reynolds. “The know-your-customer rules have been essential in seizing and freezing assets.”

Old spy model

“I think Switzerland has handled its banking industry quite well, but perhaps the old spy model probably still exists in the mind of the average US citizen, who doesn’t understand what this country has done to fight financial crime.”

Despite his short tenure at the American embassy, Mercer would like to see a closer relationship between Switzerland and the United States. “We have very strong business ties with Switzerland, which is the sixth-largest investor in the United States,” the ambassador told swissinfo.

“I would like to see the diplomatic and political ties we have raised to the same level. I think we’ve made great progress since September 11, not just fighting terrorism, but in other areas as well.”

Reynolds sees the upcoming annual meeting of the World Economic Forum in New York as a chance for the Swiss to make an impact. “I think it will be a time for Switzerland to show the world what they’re doing not only to fight terrorism, but to also show they can be a world political force in the future.”

The Forum, which has been moved its annual meeting temporarily from Davos, will also be an opportunity to put the renewed bilateral ties on show, according to Reynolds. “You will see a joint U.S.-Swiss relationship highlighted in New York.”

by Anna Nelson and Scott Capper