Money laundering
Franco-Swiss banker Hottinguer denies tax evasion charges at Paris trial
Paul Hottinguer, heir to a Franco-Swiss banking dynasty, is being tried at Paris Criminal Court for aggravated tax fraud and money laundering.
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Money laundering
Money laundering
Venezuelan businessman under money-laundering investigation becomes Trump oil partner
Venezuelan businessman Alejandro Betancourt López, who has been investigated for money laundering in Spain and Switzerland, is listed as a conspirator in the Money Flight operation according to Miami Herald, with links to the laundering of 1.2 billion dollars diverted from PDVSA.
Sanctions
US expands sanctions on Shamkhani network and Iranian digital assets
The US Treasury Department designated approximately 60 individuals, entities, and vessels targeting networks connected to Mohammad-Hossein Shamkhani.
Fraud & scams
Former Raiffeisen CEO Pierin Vincenz appeals fraud conviction in Zurich court
Pierin Vincenz, former CEO of Raiffeisen Bank, appeared in Zurich High Court on August 10, 2026 to begin an appeal of his 2022 fraud conviction.
Money laundering
UBS fined $145 million in US for money-laundering failings
UBS Financial Services Inc. was fined $125 million by FinCEN, the highest penalty ever imposed on a broker-dealer for breaches of the Bank Secrecy Act, and an additional $20 million by the SEC.
Money laundering
FinCEN assesses record $125 million penalty against UBS Financial Services for alleged recidivist anti-money laundering violations
According to FinCEN, UBS Financial Services Inc. allegedly committed 'willful' Bank Secrecy Act violations including failure to monitor over $10 billion in foreign currency wires and inadequate due diligence on high-risk clients allegedly tied to Russia and Latin America.
Other
Zurich Insurance dismisses over a dozen staff following FINMA enforcement
FINMA, the Swiss Financial Market Supervisory Authority, opened enforcement proceedings against Zurich Insurance after determining that the company's Swiss corporate life insurance and pension solutions unit offered products to customers at prices lower than those previously approved by FINMA.
Other
Swiss regulator FINMA imposes partial sales ban on Zurich Insurance pension unit
Swiss financial regulator FINMA has imposed a partial sales ban on Zurich Insurance Group AG's corporate life and pensions unit in Switzerland, according to reports citing CEO Mario Greco on 27 July 2026.
Swiss court fines Lombard Odier CHF 3m over alleged money-laundering failures linked to Karimova
The Swiss Federal Criminal Court on 27 July 2026 found private bank Lombard Odier & Cie guilty and ordered it to pay CHF 3 million ($3.7 million) for allegedly failing to prevent an Uzbek money-laundering network from operating through its Geneva business.
Other
FINMA opens enforcement proceedings against Zurich Insurance over improper pricing of policies
The Swiss financial regulator FINMA has opened enforcement proceedings against Zurich Insurance Group AG after discovering that the company's corporate life and pensions unit sold highly regulated policies to domestic customers at lower prices than those agreed upon with the regulator.
Fraud & scams
Swiss Federal Supreme Court orders fresh ruling in bank-secrecy case tied to cum-ex tax-fraud whistleblowers
Reuters reports that Switzerland's Federal Supreme Court has ordered a fresh ruling in the case of three men accused of breaching Swiss bank secrecy laws over leaked data that helped expose the cum-ex tax-fraud scandal, described as one of Europe's largest financial crimes.
Sanctions
Massachusetts Man Convicted of Violating U.S. Sanctions Against Iran
Mahdi Mohammad Sadeghi, a dual U.S.-Iranian national of Natick, Massachusetts, was convicted after a 14-day jury trial of conspiracy and violations related to illegally exporting electronic components to Iran.
Fraud & scams
Tax fraud: Alexis Kuperfis and Thierry Braha sentenced again
Trader Alexis Kuperfis and his former associate Thierry Braha, active in Switzerland, were sentenced on 7 July 2026 by the Paris tribunal in proceedings pursuant to a plea agreement concluded with the National Financial Prosecutor.
Other
FINMA concludes proceedings against Swiss Fund Management AG in liquidation and BZ Berater Zentrum AG and enforces rules of conduct in the financial services sector
FINMA concluded enforcement proceedings against Swiss Fund Management AG and BZ Berater Zentrum AG for serious breaches of conduct rules under the Financial Services Act.
Money laundering
FINMA Publishes Supplementary Guidance on Money Laundering Risk Analysis
FINMA published Guidance 04/2026 supplementing its 2023 money laundering risk analysis framework for banks and FinIA institutions.
Money laundering
Toledo sees his death approaching and confesses that Odebrecht bribe was $45 million, not $35 million: 'It's in Zurich'
Former Peruvian President Alejandro Toledo stated during an appellate hearing that Odebrecht bribes totaled $45 million ($42M USD + €3M), contradicting previous judicial figures of $35M. Toledo claimed funds are held at LGT Bank in Zurich under account holder Urs Fidel Frick.
Money laundering
CHP deputy Özgür Karabat on 'Asset Peace' legislation: 'They are seeking black money to construct authoritarian rule'
CHP deputy Özgür Karabat criticized Turkey's 'Varlık Barışı' (Asset Peace) legislation, characterizing it as facilitating illicit funds by allowing unregistered domestic and foreign assets to be legalized through minimal taxation.
Money laundering
HSBC Charged in French Probe Over Lebanese Central Bank Embezzlement Case
French financial prosecutors brought preliminary charges against HSBC's Swiss subsidiary for conspiracy to commit offences including misuse of public money, breach of trust, and bribery of a public official. The bank was required to post €80 million in bail.
Money laundering
HSBC charged in French probe into embezzled Lebanese funds
HSBC Holdings Plc's Swiss unit was charged in Paris in June 2026 as part of an investigation into suspicions it helped former Lebanese central bank Governor Riad Salameh embezzle funds.
Money laundering
HSBC's Swiss unit faces formal French probe over ex-Lebanon bank chief
French prosecutors filed preliminary charges against HSBC's Swiss private banking unit for alleged organized money laundering and conspiracy related to suspected $300 million embezzlement by Riad Salameh, former governor of Lebanon's central bank.
Other
FINMA publishes Guidance on the risks associated with the use of products in individual portfolio management
Swiss financial regulator FINMA published new guidance on June 3, 2026, explaining risk patterns it is increasingly observing in relation to the use of products in individual portfolio management in the context of escalation cases.
Fraud & scams
Armenia Asked to Freeze Magnitsky-Linked Funds
Money tied to notorious Russian Magnitsky tax fraud (perpetrators fraudulently extracted $230 million tax rebate from Russian treasury) slipped into Armenia's financial system unnoticed by regulators.
Other
FINMA concludes proceedings against Wendelspiess Partners AG and imposes long-term industry bans
FINMA concluded enforcement proceedings against Wendelspiess Partners AG for serious breaches of financial services rules.
Money laundering
Cryptocurrency Corridor for Illegal Gambling Money: Dubai Trace in 'Papel' Network
Turkish authorities investigated Papel Elektronik Para ve Ödeme Hizmetleri A.Ş., an electronic payment company accused of facilitating illegal gambling proceeds and money laundering. Seyhan İbrahim Yıldırım is listed as founder but functioned as a figurehead providing signatures only.
Fraud & scams
Corrupt networks linked to chavismo acquired assets exceeding 3.9 billion dollars
Transparency Venezuela documented 719 assets across 21 countries traced to corruption investigations from Venezuela (2009-2026), totaling over $3.9 billion.
Money laundering
DOJ and CFTC File Parallel Insider Trading Actions Against Google Engineer for Prediction Market Fraud
DOJ and CFTC filed parallel criminal and civil insider trading actions against Michele Spagnuolo, a Google software engineer based in Switzerland.
Trafficking
Sicilian drug trafficker's hidden treasure leads to Geneva and Monaco
Two Swiss private banks, Pictet & Cie and J. Safra Sarasin, appear in a seizure request filed by Palermo prosecutors targeting the criminal proceeds of alleged Sicilian drug trafficker Giacomo Tamburello.
Money laundering
Argentine Justice charged the financier convicted in the United States for laundering USD 1.2 billion from Venezuela's oil
Judge Marcelo Aguinsky charged Luis Fernando Vuteff, Argentine financier, with money laundering of illicit sources conducted habitually and imposed an embargo of $5.1 million USD. Vuteff was convicted in the US (December 2024) to 30 months in prison for conspiracy to launder $1.
Money laundering
FINMA launches consultation on revised Anti-Money Laundering Ordinance
Swiss regulator FINMA launched consultation (until June 9, 2026) on partially revised AML Ordinance addressing beneficial ownership transparency, Embargo Act compliance to prevent sanctions breaches, and FATF recommendations implementation.
Money laundering
Switzerland – investigation into financial sanctions circumvention
Swiss Federal Police (Fedpol) Annual Report 2025 disclosed investigation into Russian funds held by sanctioned Russian oligarch, described as 'one of largest cases involving money laundering for purpose of evading sanctions'.
Bribery & corruption
Le Monde Reveals an Investigation into Bribes and Corruption in the Family of Maria Carolina de Bourbon-Siciles
Le Monde published on 18 May 2026 an investigation revealing historical scandals involving the family of Maria Carolina de Bourbon-Siciles, companion of Jordan Bardella (president of the National Rally).
Other
Wealth manager convicted for tens of millions lost
Geneva Criminal Court convicted a wealth manager on April 28, 2026 for breach of trust and disloyal management.
Money laundering
Former Senator Aymeri de Montesquiou convicted for tax fraud and money laundering
The Paris criminal court convicted former UDI Senator Aymeri de Montesquiou on May 7, 2026 for aggravated tax fraud and money laundering.
Money laundering
UBS Fined €6 Million by Monaco for AML Failures
Monaco's Autorité Monégasque de Sécurité Financière fined UBS Monaco €6 million (USD $7 million) for Anti-Money Laundering failures. AMSF found UBS Monaco breached Monaco's AML obligations from 2018 to 2023, including deficiencies in Customer Due Diligence and ongoing monitoring.
Other
Swiss financial regulator significantly more active in 2025
FINMA's Annual Report 2025 reveals the regulator concluded 55 enforcement proceedings in 2025 (up from 38 in 2024) and launched enforcement proceedings in 15 cases.
Businessman Denis Katsyv withdrew 6 million Swiss francs from Switzerland in Magnitsky case
Russian businessman Denis Katsyv, suspected in money laundering from the Magnitsky case, withdrew approximately 6 million Swiss francs from Switzerland to his accounts abroad. Switzerland had blocked the assets for ten years as part of the tax fraud investigation uncovered by Sergei Magnitsky.
Money laundering
FINMA revokes MBaer Merchant Bank license for AML and sanctions compliance failures
FINMA withdrew license of MBaer Merchant Bank AG and ordered liquidation following serious AML/sanctions compliance failures. Bank enabled clients to circumvent official asset freezes; 80% of business relationships carried increased risks, with 98% of recent assets from high-risk clients.
Money laundering
Luxembourg police raid Swiss private bank EFG in money laundering probe
Luxembourg police raided EFG International, one of Switzerland's largest private banks, on 24 February 2026 as part of a probe into suspected money laundering, terrorist financing and alleged breaches of reporting obligations.
Fraud & scams
Fondation Elysium: France convicts fraudsters for €65M tax fraud, Swiss probe stalls
French authorities convicted organizers in fraud case involving Neuchâtel-based Fondation Elysium used to conceal €65 million from French tax authorities. In France, fraudsters have paid and trial of organizers concluded with convictions.
Money laundering
MAS imposes S$27.45M penalties on 9 financial institutions for AML breaches linked to S$3B money laundering case
MAS imposed S$27.45M in composition penalties on 9 financial institutions (Credit Suisse, UBS, Citibank, Julius Baer, UOB, LGT Bank, UOB Kay Hian, Blue Ocean Invest, Trident Trust) for AML/CFT breaches related to August 2023 S$3B money laundering case (illicit assets from overseas scams/online…
Other
FINMA concludes proceedings against Swiss Fund Management and BZ Berater Zentrum
FINMA concluded enforcement proceedings against Swiss Fund Management AG (in liquidation) and BZ Berater Zentrum AG for serious breaches of financial services rules. Investigation found SFM and BZ seriously breached duty to avoid conflicts of interest causing client detriment.
Money laundering
MAS Issues Prohibition Orders against former Relationship Managers, Mr Wang Qiming and Mr Liu Kai
MAS issued prohibition orders against two former relationship managers convicted in connection with Singapore's August 2023 $3 billion money laundering case.
Money laundering
Swiss Bank Reyl Under FINMA Investigation for Money Laundering Weaknesses and High-Risk Client Failures
OCCRP and Le Monde obtained correspondence showing FINMA investigated Reyl for 'weaknesses in the area of money laundering' and alleged failures in handling high-risk accounts.
Money laundering
Switzerland Proposes to Strengthen Anti-Money Laundering Laws
The Swiss government announced intentions to strengthen its anti-money laundering laws in a bill that, if passed, would bring its financial due diligence measures closer in line with international standards. The proposal includes enhanced transparency requirements and AML obligations for advisors.
Other
Lex Greensill Banned from UK Company Director Roles for Nine Years
Lex Greensill, founder of collapsed Greensill Capital, banned from acting as UK company director for nine years effective June 23, 2026 following company collapse with over £1.6 billion in liabilities.
Securities & markets
Insider Trading in Airgas/CGG: Broken Promises, the Banker and the 'Hairdresser' Regret Their Bad Decisions
In the context of a pre-guilty plea appearance (CRPC) with the National Financial Prosecutor's Office, a French trader and his former business associate, notably active in Switzerland, were sentenced on July 7, 2026 to prison terms and substantial fines.
Money laundering
FINMA Enforcement Measure Against MBaer Merchant Bank Becomes Legally Binding
Swiss regulator FINMA's license revocation of MBaer Merchant Bank became legally binding in late February 2026 after bank withdrew appeal.
Money laundering
Ukraine Charges Ex-Energy Minister Halushchenko with Money Laundering in 'Operation Midas' Case
Ukraine's National Anti-Corruption Bureau charged former Energy Minister Herman Halushchenko with money laundering and organized crime, one day after he was detained attempting to leave the country.
Money laundering
Jersey Authorities Investigate Russian Billionaire Abramovich Over Suspected Money Laundering
Jersey authorities are investigating Russian billionaire Roman Abramovich in connection with suspected money laundering, according to court records showing hundreds of millions of dollars moving through Swiss bank accounts.
Other
French tax authorities seek EasyJet crew information from Switzerland
French tax authorities (Directorate of Specialized Tax Compliance Centre East) have requested assistance from Swiss tax authorities to obtain information about EasyJet Switzerland SA crew members resident in France during the period 1 February 2023 to 31 December 2025, according to GothamCity.
Money laundering
Lebanon issues new charges against former central bank chief Riad Salame over alleged embezzlement and money laundering
According to Lebanon's National News Agency, a Lebanese judge has filed new proceedings against former central bank governor Riad Salame, 76, and former Bank Audi head Samir Hanna, 88, alleging embezzlement, money laundering, bribery, illicit enrichment, and creation of shell companies.
Other
FINMA revokes Wendelspiess Partners licence and bans executives for serious misconduct
The Swiss Financial Market Supervisory Authority (FINMA) concluded enforcement proceedings against Wendelspiess Partners AG in liquidation and two individuals for serious breaches of rules of conduct in financial services.
Money laundering
Paul Hottinguer trial opens on tax fraud and money laundering charges
Paul Hottinguer, a descendant of a renowned Swiss banking family, is being tried at Paris District Court for tax fraud and money laundering. Hottinguer is suspected of falsely establishing his residence in Switzerland to avoid paying more than 3 million euros in French taxes between 2012 and 2020.