A report from Switzerland’s interdepartmental group on combating money laundering and terrorism financing (CGMT) comes amid a corruption scandal surrounding Zurich-based FIFA, world soccer’s governing body.
The report unveils that Switzerland is not immune to financial crime and is still an attractive location for laundering the proceeds of crime mostly committed abroad.
Although CGMT found existing legislation to be an adequate response to current risks, it still recommended eight measures to improve the existing anti-money laundering infrastructure. These include pushing for more dialogue between the public and private sectors as well as developing and systemizing statistics.
After reviewing the report, Switzerland’s government will make its recommendations to parliament.
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