The Swiss government has asked the finance ministry to draft a bill to increase transparency of beneficial owners of legal entities to help tackle financial crime.
This content was published on
2 minutes
swissinfo.ch/jdp
Español
es
Suiza quiere más transparencia en la lucha contra el lavado de dinero
The bill should introduce a central register for identifying beneficial owners and new obligations when it comes to risks of financial crime, the government said in a statementExternal link on Wednesday. The register will be accessible to relevant authorities but not publicly available.
“The Federal Council places great emphasis on combating financial crime and this bill is a further step towards reinforcing the Swiss mechanisms in this regard,” it said. Anonymity of beneficial owners, who ultimately own or control a legal entity, makes it difficult for authorities to identify illegal activities such as tax evasion and money laundering.
More
More
Bill Browder: Swiss record on fighting money laundering is ‘shocking’
This content was published on
Anti-corruption campaigner Bill Browder wants the US and international organisations to increase pressure on Switzerland.
Switzerland has been criticised for not doing enough to crack down on Swiss financial advisers who help wealthy and powerful people move their money around the world.
Last October the Pandora Papers revealed how vast sums of money circulate around the world, including Switzerland, via opaque financial structures. Some 90 Swiss advisers were mentioned in the documents collected by the International Consortium of Investigative Journalists (ICIJ).
A few months prior to the Pandora Papers Swiss lawmakers refused to extend anti-money-laundering provisions to lawyers and consultants despite mounting pressure from the Financial Action Task Force and NGOs.
Improve Swiss reputation
On Wednesday the government said this draft bill, which should be ready by mid-2023, is intended to “strengthen prevention and prosecution in the area of financial crime, and in turn the integrity and reputation of Switzerland as a financial centre and business location”.
It should include measures to combat money laundering, including whether adjustments should be made to the anti-money-laundering toolkit, specifically in the area of legal professions.
More
Debate
Hosted by:
Matthew Allen
What are your views on the duty of lawyers to report money laundering?
Swiss financial advisors are not obliged to report suspicious transactions. In light of the Pandora Papers, what are your thoughts about this? From the article Pandora Papers throw suspicion on Swiss financial advisers
This content was published on
The Ethos Foundation recommends that shareholders vote against all compensation-related items at the Annual General Meeting on March 7.
Top Swiss firms close to reaching gender quota in boards
This content was published on
The proportion of women on the boards of directors of the fifty largest listed companies in Switzerland currently stands at 28%.
Swiss committee wants to end government resignations during legislative term
This content was published on
Members of the Federal Council should no longer be able to leave office before the end of their term, according to a House of Representatives committee.
Swiss government seat: Ritter and Pfister nominated to succeed Amherd
This content was published on
Markus Ritter from St Gallen and Martin Pfister from Zug were officially nominated by the Centre Party on Friday to succeed Defence Minister Viola Amherd.
Top Swiss court rejects Russian request for administrative tax assistance
This content was published on
There is currently no reason to transmit banking information to the Russian Federation, the Swiss Federal Court has ruled.
After strike by radiologists, doctors demonstrate in Bern
This content was published on
Following a strike by radiology technicians in Fribourg, doctors, vets, dentists and chiropractors expressed their frustration on Friday outside parliament in the Swiss capital.
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
Bill Browder: Swiss record on fighting money laundering is ‘shocking’
This content was published on
Anti-corruption campaigner Bill Browder wants the US and international organisations to increase pressure on Switzerland.
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.
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.