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Liquidation Order for MBaer Merchant Bank Is Effective, Watchdog Says
Finma found MBaer lacked anti-money laundering controls and handled 98% high-risk client assets, leading to license revocation and liquidation after the bank dropped its appeal.
- On February 27, 2026, Finma revoked MBaer Merchant Bank AG's license and ordered it into liquidation, with Annett Viehweg continuing as chief executive during supervised liquidation.
- Finma found the bank had systematic compliance failures and inadequate anti-money-laundering structures, exposing itself and the Swiss financial center to high risks.
- MBaer, founded in 2018 in Zurich by Michael Baer, held nearly 700 client relationships, over 60 employees, and had 4.9 billion Swiss francs in client assets at the end of 2025, regulators say.
- On Thursday, MBaer dropped its court appeal after the US proposed cutting it off from its financial system, while Finma opened proceedings against four individuals.
- Amid heightened U.S.-Swiss tensions, the episode raises fresh scrutiny of Swiss banks as FinCEN said MBaer handled funds tied to Venezuela's state-owned oil company corruption and alleged links to Iran and Russia.
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19 Articles
19 Articles
The Swiss authorities revoked the license and sent MBaer Merchant Bank AG into liquidation due to actions aimed at violating sanctions.
The supervisory authority had previously identified serious deficiencies in the bank's fight against money laundering.
·Zürich, Switzerland
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Coverage Details
Total News Sources19
Leaning Left5Leaning Right1Center2Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 25%
12%
Factuality
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