Head of the Bankers Association refutes criticism from the US: “Zero tolerance strategy towards dirty money”

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Studer made the bankers’ association’s position clear: “We pursue a zero-tolerance strategy towards black money.” He said this in an interview with the ‘Neue Zürcher Zeitung’ published on Wednesday.

Combating money laundering and terrorist financing is at the top of the priority list. Studer also said that there are relatively many assets blocked in Switzerland relative to the size of the financial center.

The political pressure from the US is unpleasant. The accusations are incorrect. Moreover, according to Studer, one should not have any illusions: there is a lot of political calculations and the interests of financial centers behind this. “You have to deal with it and do educational work,” Studer said. As a neutral player, Switzerland must be prepared for pressure attempts from all sides.

In addition to actions, communication is also important. “We can still improve in this area,” he said. In retrospect, the Bankers Association would have been wiser in its open communication about the assets of Russian citizens managed in Switzerland. This amounts to approximately 150 billion francs. “You cannot tell from this number how restrictive Switzerland is, because it also includes Russian citizens who are not even in the crosshairs of the sanctions,” Studer said.

From the association’s perspective, he sees few reasons why Switzerland should not join the oligarchic task force of the G7 states. The federal government gave the major industrialized countries a basket in April. He refused to participate in the international task force to track down Russian oligarch funds.

(SDA)

Source:Blick