© Reuters. FILE PHOTO: The brand of Swiss financial institution Credit score Suisse is seen at a department workplace in Zurich, Switzerland, November 3, 2021. REUTERS/Arnd WIegmann/File Picture
BRUSSELS (Reuters) -The principle political grouping within the European Parliament referred to as on Monday for a assessment of Switzerland’s banking practices and for the nation’s doable inclusion within the EU’s dirty-money blacklist after leaks of Credit score Suisse (SIX:) paperwork.
Media retailers printed the outcomes of investigations right into a leak of knowledge on hundreds of accounts held on the financial institution in previous many years and mentioned they appeared to indicate shoppers included human rights abusers and businessmen underneath sanctions.
Credit score Suisse mentioned it strongly rejected any allegations of wrongdoing and that the media experiences had been based mostly on “partial, inaccurate or selective info taken out of context”.
The European Individuals’s Occasion (EPP), the conservative grouping which holds the most important variety of seats within the European Parliament, referred to as on the EU Fee on Monday to “re-evaluate Switzerland as a high-risk money-laundering nation” as a part of the following assessment of the record.
The European Fee, which is chargeable for drafting and reviewing the record, declined to touch upon the EPP’s assertion. A spokesperson pointed to the truth that the record was up to date final month and no time had been set for the following assessment.
“As we speak, Switzerland meets all worldwide requirements on the alternate of knowledge in tax issues and on combating towards cash laundering, terrorist financing and corruption,” the finance ministry’s State Secretariat for Worldwide Finance mentioned in an emailed assertion.
“The ‘Swiss Secrets and techniques’ findings level to large shortcomings of Swiss banks with regards to the prevention of cash laundering,” the EPP’s coordinator on financial affairs Markus Ferber mentioned.
“When Swiss banks fail to use worldwide anti-money laundering requirements correctly, Switzerland itself turns into a high-risk jurisdiction,” he added.
“Apparently, Credit score Suisse has a coverage of trying the opposite method as an alternative of asking troublesome questions,” Ferber mentioned. When requested concerning the group’s assertion, the financial institution mentioned it had nothing so as to add.
The EU record at the moment includes over 20 nations who’re deemed to have shortfalls of their guidelines and practices towards cash laundering. Amongst them are Iran, Myanmar, Syria and North Korea. No European nation is on the record.
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