The Panama Papers have led to a series of investigations worldwide.
Keystone
Switzerland is the only country that declined an invitation from the German police to sift through the leaked Panama Papers that detail the activities of global banks and financial intermediaries on behalf of wealthy clients.
The SonntagsZeitung reports that 16 other countries sent police and prosecutors to Wiesbaden, Germany, last September to glean evidence of potential offences. The documents were leaked from a Panamanian law firm to the International Consortium of Investigative JournalistsExternal link.
They contain details of how wealthy people arranged their finances, often through layers of shell companies and other opaque legal structures. The revelations have led to several investigations into suspected money laundering or tax evasion schemes.
But Switzerland refused to send any officials to Germany last year. A spokesperson for the Swiss federal police said officers are in contact with German counterparts. But German police told the newspaper that they have not received any request for assistance from Switzerland despite having possession of the treasure trove of documents.
The Swiss Office of the Attorney GeneralExternal link said it was restricted by regulations on how it could receive and use evidence. One Swiss lawyer is quoted in the newspaper article as saying few restrictions apply concerning evidence received from private individuals.
The Panama Papers revealed among other things that 1,339 Swiss lawyers, financial advisors and other middlemen had set up more than 38,000 offshore entities over the past 40 years. These entities listed 4,595 officers – or administrators – also connected to Switzerland.
In October 2016, the Federal Tax Administration revealed that 450 individuals and companies in Switzerland were connected to the Panama Papers, but added that it was unclear whether offshore accounting was used to hide money from the tax authorities.
More
More
Panama Papers data confirms Swiss links
This content was published on
More details from the so-called Panama Papers were released on Monday by the International Consortium of Investigative Journalists (ICIJ). The documents were leaked from the Panamanian law firm Mossack Fonseca. The papers show that 1,339 Swiss lawyers, financial advisors and other middlemen had set up more than 38,000 offshore entities over the last 40 years.…
Environmental responsibility initiative goes too far for Swiss government
This content was published on
Natural resources must be conserved, but not to the extent demanded by the environmental responsibility initiative, say the Swiss government and parliament.
SWISS plane back in Zurich after emergency landing in Austria
This content was published on
Two-and-a-half weeks after an emergency landing in Graz in which a crew member died, the SWISS Airbus involved has returned to Zurich.
Bern scientists recover ice core dating back 1.2 million years
This content was published on
An international research team with Swiss participation has successfully recovered the oldest ice from the Antarctic to date.
This content was published on
A Swiss national has been found dead in a prison in Iran. According to the Iranian authorities, the man had committed suicide and was accused of espionage.
This content was published on
More than six years after its launch, the 'Bepicolombo' space probe flew past the planet Mercury for the last time on Wednesday.
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
Panama Papers put Swiss lawyers in tight spot
This content was published on
For anti-corruption campaigners, the media-driven exposé provides the missing link between such financial intermediaries and the murky activities of the rich and powerful. Furthermore, they claim that the emerging details highlight loopholes in regulations that are supposed to clamp down on financial crimes. But lawyers bridle at the suggestion that they are doing the dirty…
Painting seized in Geneva after Panama Papers tip-off
This content was published on
The painting in question is believed to be one titled “Seated Man with a Cane” made by the Italian artist Amedeo Modigliani and thought to be worth some $25 million (CHF23.8 million). It is also believed to have been stolen during the Second World War. The Geneva public prosecutor’s office confiscated the painting on April…
Swiss ban Gazprombank Switzerland from accepting new private clients
This content was published on
The Financial Market Supervisory Authority (FINMA) on Thursday said the Swiss branch of the Russian bank had “failed to carry out “adequate economic background clarifications into business relationships and transactions with increased money laundering risks”. An investigation launched in 2016 into 30 Swiss banks based on information from the Panama Papers leaks found the Swiss…
Switzerland should not act alone against tax havens
This content was published on
Switzerland must not go to war on its own against offshore tax havens after the Panama Papers scandal, the House of Representatives has agreed.
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.