Financial Suspicious Activity Reports in Switzerland in 2012

Swiss banking officials filed 1,585 suspicious activity reports in 2012 to federal authorities. The suspicious transactions involved $3.3 Billion (3.15 Billion Swiss Francs). 6 of the cases involved almost half of the money that was flagged.

Between 2010 to 2012, the number of reports flagged by the Swiss banking industry increased by almost 50 percent when compared to previous years.

Since 2003, there have been 8,251 cases of suspicious financial transactions that have been forwarded to prosecutors. Out of this total, over 40 percent are still pending and over half were either dismissed or was suspended. 4.5 percent of the cases have reached conclusion with verdicts.

(Key details about money laundering worldwide.)

Source:  Associated Press, “Swiss: 1,500 money-laundering cases last year,” Bloomberg Businessweek, May 14, 2013.