Saturday, February 4, 2012


As expected, now American law enforcement agencies are targeting the regional and cantonal Swiss banks that picked up the American tax cheats who were fleeing the big banks, fearing that they would be reported. It appears that a targeted campaign directed at those tax evaders resulted in the placement of large sums of untaxed American money in a bank that boasted it had no US branch, agency or office, and that it completely observed the Swiss tradition of bank secrecy.

A few criminal indictments later, the realisation that Switzerland is no longer a safe place for your "flight capital" will sink in, especially after a number of Swiss bankers find themselves in Federal Prison.

Look then for creative money launderers to be  dispensing advice on where to go for their offshore needs. Though The Far East is the logical choice, due in part to lack of US presence and influence,  some of this money may be seeking a safe haven in other jurisdictions. Remember, in the business of money laundering, you are only limited by your imagination.

Have you seen any incoming wire transfers from regional, local or cantonal Swiss banks since last week ? If so, you are advised to examine them, the remitter, and your client, thoroughly.

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