Our top seven Switzerland blogs on money laundering, terrorist financing and beneficial ownership

Written by Lily Harwood-Millar on Tuesday October 4, 2016

Switzerland is one of the least corrupt countries in the world: it ranked 7th among 186 countries with a score of 86 out of 100 in the Corruption Perception Index 2015 of Transparency International.

Take a look at our top insight from Switzerland here (ordered by most read first):

1. Reporting Suspicions of Money Laundering and Terrorist Financing - A Closer Look at Switzerland

At the International Compliance Association we find ourselves discussing money laundering issues almost constantly. One of the reasons that I love my job is that I get to discuss the finer points of anti money laundering regulations with other like-minded people.

2. All change on cash? Tackling money laundering through cash transaction limits in Switzerland

A good way to get an eye-catching headline these days is to carry out some research predicting the death of cash, now that we are all abandoning notes and coins in favour of smartphone apps, contactless cards and mobile payments.

3. Beneficial ownership: A new era of openness?

Beneficial ownership is a phrase likely to leave the average person baffled and probably not very bothered. But it’s a concept set to attract much more interest over the coming months and years, thanks to the Fourth Anti-Money Laundering Directive (4MLD), and the central registers of beneficial owners that it will introduce.

4. Switzerland: Tone from the Top of the Alps

A high percentage of Switzerland's surface is covered by the Alps. The melting of glaciers, located at the top of the mountains, generates flows of clean – and essential - water for a wide range of ecosystems downstream

5. Switzerland to return $380 million to Nigeria in Abacha case

Swiss prosecutors have announced that $380 million is to be returned to Nigeria as funds linked to the ex-dictator Sani Abacha.

6. Corruption - is perception reality? 

Corruption is commonly defined as ‘the abuse of entrusted power for private gain’ and usually falls into three main categories: grand corruption, petty corruption and political corruption.

7. Fraud in Switzerland: the financial crime that needs a 21st century fraud response plan 

We don’t know who originally had the idea for committing financial crime, although what is said to be the first recorded incident of fraud – involving a Greek merchant called Hegestratos, an upfront payment for transporting a cargo of corn and a failed plan to scuttle the ship carrying it – dates back to around 300 BC.


For more information on the full range of ICA qualifications in Switzerland, please visit our qualifications page.

To stay updated on the latest regulatory and financial crime compliance developments in Switzerland, please follow us on LinkedInFacebookand Twitter, where you are guaranteed to be notified when our next insight piece goes live. 


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