Switzerland: Money laundering claims increase 24%

BERN, Switzerland – The Swiss Government announced that the number of money laundering claims increased, reaching 3.3 billion Swiss francs.

The Money Laundering Reporting Office of Switzerland (MROS), noted a 24% increase in the number of suspicious funds claims in 2014 compared to 2013, or 1,753 claims.

85% of the claims involved the banking sector.

Seven of the claims involved 275 million Swiss francs; one of these claims alone was for 200 million Swiss francs.

The number of reports of suspicious funds involving terrorist financing fell from 33 in 2013 to 9 in 2014.

Due to changes in the reporting system, as of 1 January 2016, assets will no longer be automatically frozen on receiving a claim of suspicious funds, but rather at the moment when the Swiss money laundering office informs “the financial intermediary that the case has been forwarded to the prosecution authorities.”

As of 2016, all businesses will also be required to report any cash in excess of CHF100,000.

Read the full 2014 report in French here.

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