The office was able to process 4,074 of these reports last year, and forwarded about half (2,024) to the law enforcement agencies, as it stated in its annual reportExternal link published on Thursday.
By the end of 2019, there were still 6,095 suspicious cases – including thousands from previous years – awaiting processing. This is about one fifth more than at the end of 2018.
114 suspected terrorism cases
The total amount of assets reported under suspicion of money laundering in 2019 amounted to CHF12.9 billion ($13.2 billion) as of November 22, when the office switched to a new internal data system.
As in previous years, these assets originated mainly from suspected fraud or corruption offences. Almost all reports were made by banks or payment service providers. In contrast to the banks, the number of reports from asset managers, trustees, lawyers and notaries has not increased in recent years.
The office received 114 reports of suspected terrorist financing (down from 132 in 2018). Only 13.4% of these reports were forwarded to the judicial authorities. In more than three quarters of the cases, the reports were triggered by newspaper reports (35%), transaction monitoring (24%) or information from third parties (19%).
Swiss government proposes overhaul of money-laundering laws
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The Federal Council (executive body) proposed on Wednesday a set of legal amendments External linkto meet international standards in the fight against money laundering and terrorism financing. It also made recommendations regarding due diligence requirements for Swiss-based associations active abroad, as well as the traders of precious metals and stones. Lawyers and notaries in the spotlight The…
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Legal action filed against Swiss purchase of Israeli drones
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Legal action aims to put an end to the delivery of the six Elbit reconnaissance drones already plagued by delays and setbacks.
Higher direct payments fail to curb scrub encroachment on alpine pastures
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The scrub encroachment on Swiss alpine pastures leads to the loss of grassland and damages the typical landscape. It is also responsible for the decline in biodiversity. Despite higher direct payments, the bushes continue to spread.
Head of Swiss financial regulator’s Banks division quits
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Thomas Hirschi, head of the Banks division of the Swiss Financial Market Supervisory Authority FINMA will leave at the end of August.
Swiss population satisfied with life according to survey
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In a survey, the population of German-speaking and French-speaking Switzerland expressed general satisfaction with their lives. Respondents were less happy with politics and their personal finances, according to the online comparison service Moneyland.
WHO ‘extremely concerned’ about growing vaccination scepticism
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According to the World Health Organisation (WHO), vaccination scepticism and a collapse in funding for vaccination campaigns pose a major threat to the health of the world's population.
High-net-worth individuals prioritise well-being over material possessions
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The priorities of wealthy private individuals have shifted against the backdrop of ongoing geopolitical tensions and trade disputes. While spending on luxury goods is declining, demand for travel and experiences is unabated.
Swiss researchers sequence genome of 1918 Spanish flu virus
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Researchers from the Universities of Basel and Zurich (UZH) have sequenced the genome of the Spanish flu virus, thanks to a sample taken from an 18-year-old Swiss boy who died in the city on the Limmat in 1918, when the pandemic spread around the world.
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