Swiss perspectives in 10 languages

Switzerland rejects German Panama Papers offer

A workman walks by a sign saying Panama
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.…

Read more: Panama Papers data confirms Swiss links


Popular Stories

Most Discussed

News

No Swiss bank in phase with environmental objectives

More

Swiss banks failing environment, says WWF

This content was published on None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.

Read more: Swiss banks failing environment, says WWF
UNRWA provides emergency assistance to just over one million Palestine refugees, or about 75 per cent of all Palestine refugees in Gaza, who lack the financial means to cover their basic food.

More

Lazzarini: no alternative to UNRWA in Gaza

This content was published on The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.

Read more: Lazzarini: no alternative to UNRWA in Gaza

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

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.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR