‘Pandora Papers’ shed more light on activities of Swiss financial advisors
A new set of leaked documents, dubbed the Pandora Papers, has again exposed the role of Swiss lawyers, accountants and consultants in managing the wealth of powerful clients.
This content was published on
1 minute
swissinfo.ch/mga
Español
es
Papeles de Pandora exponen actividades de asesores suizos
The International Consortium of Investigative Journalists (ICIJ) has revealed the contents of 11.9 million tax haven documents relating to the financial affairs of political leaders and other figures.
The leaked documents include details of how vast sums of money circulate around the world, including Switzerland, via opaque financial structures.
For example, one lawyer in central Switzerland tended to over 60 postbox firms on behalf of powerful people, including the president of Azerbaijan.
More than 90 Swiss advisers show up in the documents, including 26 that provided services to clients who have been probed by anti-money laundering investigators, according to ICIJExternal link.
While the Pandora Papers have yet to prove any criminal activity, previous leaks, such as the Panama Papers, have led to prosecutions.
Swiss banks have been forced to tighten their reporting of suspicious transactions in recent years, but efforts to impose such requirements on financial advisors have been rejected.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
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
Parliament agrees modest tightening of anti-money laundering law
This content was published on
Swiss lawmakers have agreed to revise the money laundering law but have rejected new rules for lawyers, notaries and other consultants.
US charges Swiss finance firm and six people with tax evasion
This content was published on
Six people and a Swiss financial services company have been charged in the United States with helping clients evade taxes on $60 million of assets.
Swiss lawyers seek to keep special ‘advisor’ status in the shadow economy
This content was published on
Anti-corruption expert Mark Pieth offers perspective on how lawyers are trying to keep a loophole that allows them to set up offshore structures.
Tax authorities say 450 Swiss linked to Panama Papers
This content was published on
“We have found 450 people – people in the legal and physical sense – who have a link to offshore structures and Switzerland,” spokesman Joel Weibel told Swiss public radio, SRF, on Monday. The use of offshore entities is not in itself illegal. Weibel said the information on the 450 people would now be passed…
Paradise Papers fuel Swiss better business initiative – for now
This content was published on
In Switzerland, a coalition of 85 non-governmental organisations and trade unions are backing an initiative called “responsible business”.
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.