Several Swiss banks have been reprimanded for breaching laundering rules involving people linked to Venezuela's state oil company PDVSA, and have been ordered to terminate all business links with Venezuelan clients as well as with risky clients.
German investigators suspect that a mole spied for Swiss intelligence from inside a government office which was trying to catch German tax dodgers. The allegations are part of the case against an alleged Swiss spy arrested in a Frankfurt hotel on Friday, 29 April, German media report. He is suspected of monitoring German tax investigators.
With a new law to help seize and repatriate illicit wealth stashed in Swiss banks by foreign dictators and a positive – but slow - track record, Switzerland is a leader in the return of illicit dictator funds, a top Swiss official claims. Over the past 30 years Switzerland has returned almost US$ 2 billion misappropriated and deposited in Swiss banks by “politically exposed persons” (PEPs).
A new law on returning illicit dictator funds that are deposited in Swiss banks has been approved by the Swiss parliament.