Archive – Banking & Fintech

Fewer fraud cases tried but higher stakes in 2009

This content was published on Feb 2, 2010 Although the total number of cases fell by almost a quarter, the total value involved increased by 54 per cent, swollen by the largest-ever organised crime and money-laundering trial to come before the Federal Criminal Court (see related cigarette smuggling story). The audit specialists described the average perpetrator as “men who have been with the…

Consumer confidence improves

This content was published on Feb 2, 2010 The quarterly survey index – in which 1,100 households are asked for their evaluation of the economic situation, their own financial situation, inflation, job security and so on – reached a level of -7 points in January, compared with -14 points in October 2009. Based on the January survey, consumers expect unemployment to rise more…

Germany tempted by stolen bank data

This content was published on Feb 1, 2010 Chancellor Angela Merkel said on Monday Germany should do everything in its power to obtain data to fight tax evasion, adding that every reasonable person knows that tax evasion needs to be investigated. “If the data is relevant, we must get possession of it.” However, she said that the first thing to do was to…

Germany interested in buying stolen data

This content was published on Feb 1, 2010 A spokesman for the German finance ministry said on Monday that the government would “do everything it can to stop tax evasion”. He said the authorities were currently seeking to clarify legal issues surrounding the case. German Chancellor Angela Merkel also said that Germany should do everything possible to obtain data on tax cheats. The…

Report spotlights “invisible” foreign minors

This content was published on Feb 1, 2010 The Lausanne-based agency has presented a report on this “hidden problem” following an in-depth investigation in 2008-2009 in Switzerland, France, Belgium and Spain. “The most shocking thing is that nobody talks about this issue,” Sofia Hedjam, main author of the Terre des hommes study, told swissinfo.ch. “This is not a marginal phenomenon; it’s a social…

Experts send out warning over alcohol ads

This content was published on Feb 1, 2010 The move to allow beer and wine commercials to air nationally in Switzerland brings the country in line with European Union regulations. It was approved by government last year. The group, which includes the Swiss Institute for the Prevention of Alcohol and Drug problems, said that it wanted send out a reminder that the law…

Did Davos 2010 break or create barriers?

This content was published on Jan 31, 2010 But the overriding impression of the week was of a growing conflict between bankers, regulators and politicians that represents a significant first hurdle against a sustainable recovery. Gone was the pessimism and defensive tenor of last year’s forum, but it was replaced with a thirst for a fight as each side drew up battle lines.…

Informant offers to sell Swiss bank data

This content was published on Jan 30, 2010 Germany’s Frankfurter Allgemeine Zeitung on Friday said the informant had demanded €2.5 million (SFr3.68 million) for the data and German Finance Minister Wolfgang Schäuble was evaluating whether to agree to the deal. The informant gave tax auditors the data of five of the 1,500 cases to prove the validity of the information and an investigation…

Harsh rules “could drive bankers underground”

This content was published on Jan 29, 2010 Speaking at the World Economic Forum meeting in Davos, Patrick Odier said a ban on banks betting their own money on the markets (proprietary trading) could lead to some traders taking such activities under the regulatory radar. He also defended the biggest banks – labelled by some as “too big to fail” – for providing…

Economic recovery slowing down

This content was published on Jan 29, 2010 Growth in January was only 0.04 points up on December, the report said. Between September and October it had risen by 0.7 points but since then had become less pronounced. “The recovery of the Swiss economy is likely to slow down,” KOF warns. KOF, which is part of the Federal Institute of Technology in Zurich…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Fewer fraud cases tried but higher stakes in 2009

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Consumer confidence improves

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Germany tempted by stolen bank data

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Germany interested in buying stolen data

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Report spotlights “invisible” foreign minors

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Experts send out warning over alcohol ads

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Did Davos 2010 break or create barriers?

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Informant offers to sell Swiss bank data

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Harsh rules “could drive bankers underground”

More

Economic recovery slowing down

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