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
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
This content was published on
Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
This content was published on
The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
This content was published on
Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
This content was published on
In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
This content was published on
The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
This content was published on
Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
This content was published on
Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
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.