In response to international pressure, the government has asked parliament to approve a proposal to further dilute banking secrecy, allowing the Swiss Money Laundering Reporting Office (MROS) to pass on banking data to its partners abroad.
The Swiss reporting office is a member of the Egmont Group, an international association of “Financial Intelligence Units”, which since July last year has been threatening to suspend Switzerland.
The MROS, part of the Federal Police Office, is the only member of the 127-strong group that has refused to transmit financial information to fellow authorities.
The intergovernmental Financial Action Task Force, the central global organisation in the fight against money laundering and the financing of terrorism, has also hardened its tone on the issue, calling for reporting offices to be obliged to exchange all the information at their disposal.
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