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.…
Two decades after tsunami, Swiss tourists flock to Southeast Asia
This content was published on
Twenty years after a catastrophic tsunami in Southeast Asia, the region is again a top destination for Swiss, including at Christmas.
Swiss forests better equipped for storms 25 years after Lothar
This content was published on
Twenty-five years after Hurricane Lothar wreaked havoc in Switzerland, the country’s forests are now better prepared, experts say.
Media: Swiss medical services done abroad are billed at Swiss rates
This content was published on
In Switzerland, some medical services carried out abroad are still billed at Swiss rates, despite costing less, RTS reports.
This content was published on
Sophie Hediger, a member of the Swiss national snowboard cross team, has died in an avalanche in Arosa. She was 26 years old.
This content was published on
Several Swiss films exceeded the 100,000 admissions mark worldwide in 2024 and received widespread praise at international film festivals.
Swiss Alpine resorts covered in white gold for Christmas
This content was published on
Many areas at low altitudes in Switzerland are enjoying a blanket of snow. In the mountains, intense precipitation has delighted skiers.
SWISS makes emergency landing in Austria after smoke in cockpit
This content was published on
Swiss International Airlines (SWISS) made an emergency landing of an Airbus in Graz, Austria on Monday evening after engine problems.
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.