Leak links Swiss banks with money laundering operation
A new leak is linking Swiss financial institutions with potential money laundering operations involving Venezuela and other countries.
Dubbed the Fincen Files – which stands for the Financial Crimes Enforcement Network – are being examined by the International Consortium of Investigative Journalists. The same organization which unveiled the Panama Papers.
The numbers are staggering – it suggests USD 2trn moved around the world between 2008 and 2017 in suspicious transactions.
Banks in cantons Zug, Ticino and Geneva are identified as being involved with suspicious currency transactions.