Swiss authorities report 1,500 money-laundering cases in 2012
According to the annual report presented at the conference in Bern, Switzerland on May 14, Swiss authorities investigated several reports of terrorist financing among a high number of suspected money-laundering cases connected to banks last year.
The number involving terrorist financing rose to 15 in 2012, which is 5 more than in 2011, due to a single complex case of almost USD 8 million, according to an annual report issued by Swiss Money Laundering Reporting Office (MROS).
They were 1,585 suspected money-laundering cases that Swiss authorities disrupted in 2012, including 15 linked to terrorist financing. The past two years have seen an almost 50% increase in the number of cases compared with previous years.
Two-thirds of the cases were linked to banking, and more than 200 cases involved more than 100,000 Swiss francs (USD 104,000). The rest were mainly tied to payment services, fiduciary and asset managers.
Most of the cases were reported by a financial intermediary such as banks, credit card companies, casinos, and currency exchanges, or were based on newspaper reports or information from other third parties such as financial compliance databases.