Switzerland Urged To Step Up Fight Against Ill-gotten Funds
Switzerland is not doing enough to rid itself of ill-gotten funds, despite loosening its banking secrecy, and should now beef up its law against money laundering, an global corruption watchdog said on Tuesday. Cobus de Swardt, head of the Berlin-based group Transparency International, said Berne needed to prevent ill-gotten funds from being hidden or laundered, for example through cash purchases of luxury goods or property.
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