Swiss financial sector ‘vulnerable’ to crime

Switzerland’s financial centre is a strength but is also a weakness when it comes to money laundering, according to Attorney General Michael Lauber. Speaking at an event in Lugano on organised crime, Lauber described the financial centre as a vulnerability, saying the authorities needed to remain vigilant against organised crime. Indeed, the government itself notes that “since such services are clearly of interest not just to legitimate businesses but also to criminal organisations and individuals, it is important to maintain safeguards against abuses”. In all, the financial sector accounts for 10% of economic output. swissinfo.ch/tvsvizzera.it: Which Swiss sectors are most sensitive to organised crime? M.L.: It’s necessary to stay vigilant, because every liberal system – whether it’s the foundation of a company, a financial centre, real estate – all could be abused by criminals, and especially by criminal organisations that have enormous financial power. We see now ...