Legal Business

Sponsored briefing: Compliance in Switzerland and abroad: Tackling corruption and white-collar crime

Fabian Teichmann and Marie-Christin Falker on how multinational corporations operating in Switzerland can improve their compliance regimes

Clients from all over the globe appreciate the security and stability of Switzerland as one of central Europe’s economic and financial powerhouses. This makes Switzerland a designated safe haven for multinational corporations, entrepreneurs, and wealthy individuals alike. On top of that, Switzerland offers advantageous taxation regimes and privacy. Unlike most other countries, Switzerland places great value on its longstanding tradition of banking secrecy.

Legal Business

Sponsored briefing: Methods of money laundering: Circumventing anti-money laundering mechanisms

Money laundering continues to be an issue for both financial services providers and their clients. In particular, money launderers continue to circumvent compliance measures by relocating to less-regulated, often cash-intense sectors. Because money launderers are not bound by parliamentary decision processes, they are able to react faster and exercise more flexibility than those who are responsible for keeping them in check. This goes to show that it is not only helpful but necessary for compliance officers and other diligent actors to be able to empathise with money launderers and how they operate.

At Teichmann International, we believe that in order to be able to effectively prevent money laundering, one needs to look at compliance from the money launderer’s perspective. Money launderers generally avoid methods and industries that fall within the scope of Anti-Money Laundering Acts. Moreover, they frequently split larger amounts of incriminated money to undercut threshold values for cash payments. Particularly well suited are investments in tangible assets because they facilitate placement of incriminated cash by changing the value carrier.