A global problem…
Illicit financial flows are a complex global issue. The term broadly refers to the cross-border transfer of funds in connection with illegal activities such as money laundering, corruption, fraud and tax evasion. It is difficult to estimate the global volume of these flows. Switzerland, like all major international financial centres, is at risk of abuse and is firmly committed to tackling illicit financial flows with a multi-faceted approach.
In recent years, Switzerland has made a substantial contribution to the development of international standards, has adopted these standards into domestic law and is now committed to effective enforcement.
Swiss financial Integrity
Switzerland is an active member of several international anti-corruption mechanisms, such as the G20 anti-corruption working group, the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, the Criminal Law Convention on Corruption of the Council of Europe, and the United Nations Convention against Corruption.
As part of its development cooperation, Switzerland has long supported programmes in developing countries to strengthen the institutions that counter illicit financial flows.
How Switzerland supports the fight against financial crime, corruption, tax evasion and over-indebtedness, and furthers the recovery of assets