Four Swiss banks flout anti-laundering rules
AFP · 10 Nov 2011, 12:26
Published: 10 Nov 2011 12:26 GMT+01:00
Four Swiss banks flouted money laundering regulations in the way they dealt with banned Tunisian, Egyptian and Libyan assets, Switzerland's financial regulator FINMA said on Thursday.
"In four cases FINMA will open enforcement proceedings," said the regulator after an audit of the way 20 banks dealt with Swiss orders to freeze assets held by dictators and their relations in the three countries.
The regulator did not name the four banks in question but said there was "inadequate" enforcement of anti-money laundering rules.
Could Montreux host the 2026 Games? Photo: Ivo Scholz/Swiss Tourism
Montreux is to put itself forward as the host city for the 2026 winter Olympics as part of a potential bid by the cantons of Valais and Vaud.
Catch a Car is aimed at short hops within a city. Photo: Catch a Car
Catch a Car, already in Basel, launches in Geneva next month.
Female employees in Switzerland earn 19.3 percent less than their male colleagues. File photo: Randy Kashka
Switzerland's gender pay gap means from today, Friday October 21st, women in the country will effectively be working for free for the rest of 2016.
Police outside the Girard-Perregaux watch store on Thursday. Photo: Bertrand Guay/AFP
The 10 Girard-Perregaux watches are worth half a million euros in total.
The victim worked in a school in Stabio, near the town of Mendrisio. Photo: Oliver Graf
The primary school teacher was found dead in Ticino earlier this week.
Designed to house 20,000 people, the bunker was built in and over two motorway tunnels. Photo: Unterirdisch Ueberleben
The Local takes a tour of the Sonnenberg bunker in Lucerne, opened 40 years ago at the height of the Cold War.
File photo: Renato Bagattini/Swiss Tourism
Skiers in Switzerland pay the highest prices for their ski passes of anywhere in Europe, according to research.
There are currently more than 30 wind farms in Switzerland. Photo: Alpiq
Wind turbines are “gigantic and destructive” machines, says Paysage Libre Suisse.
Antoni Da Campo will now carry out his military service. Photo: Antoni Da Campo
A Swiss man who was told he would not be accepted for military service because of his strict veganism has finally succeeded in making the army change its mind.
File photo: Emran Kassim
The Swiss public prosecutor has dropped the case against them.