As the nation continues to be lenient toward corporate financial corruption, Swiss prosecutors should more aggressively enforce laws against money-laundering, a group dedicated to ethics said on Friday.
In accordance with laws that went into effect in 2003, the Swiss branch of Transparency International reported that there had only been 10 documented convictions for money laundering and related corruption committed in the course of business transactions.
In contrast, it claimed that, according to research from 2012, about every fifth Swiss exporter had made ‘informal (corrupt) payments abroad.’
According to Martin Hilti, the head of Transparency Switzerland, all of the companies found guilty and fined had business dealings abroad, but the organization’s criticisms also applied to domestic companies. All were not banks.
After fighting to shed its previous reputation as a haven for thieves to hide their loot, Switzerland now routinely shares bank account information with over 100 nations.
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