Money Laundering: Another Rise in Suspicious Activity Reports

The Directorate-General of the Internal Security Forces has issued the following communiqué:

The number of suspected reports of money laundering in Switzerland has again increased significantly last year. Progress in national and international mutual assistance has been made, writes the Reporting Office.

Money Laundering: Another Rise in Suspicious Activity Reports

The number of suspicious activity reports (SARs) related to money laundering in Switzerland rose significantly again last year. According to the reporting office, there has also been progress in both national and international cooperation.

The suspicion of money laundering in Switzerland appears to have increased significantly. 92 percent of these reports came from financial intermediaries in the banking sector.

Transferring money anonymously isn't always possible in Germany – and there are good reasons for this. Strict financial regulations are designed to make money laundering, terrorist financing, and tax evasion more difficult. Without traceable identification of the parties involved, illegally acquired funds could easily be laundered or used to finance illegal activities (such as terrorism). Taxable income would also be much easier to conceal if th…