According to the Swiss government, real estate is not used systematically for money laundering but a “risk of abuse” exists.
“The real estate business in Switzerland must become subject to anti-money laundering legislation,” asset recovery expert Mark Pieth told swissinfo.ch.
According to Pieth, who is chairman of the board of the Basel Institute on Governance, the 2008 financial crisis caused a fundamental shift in investment strategies.
“A lot more money is being invested in real estate which previously would have probably ended up in shares,” he explained.
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