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.

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.

Corrupt networks linked to Chavismo acquired assets worth over 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.

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.

Wealth manager convicted for tens of millions misappropriated

Geneva Criminal Court convicted a wealth manager on April 28, 2026 for breach of trust and disloyal management.

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.

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.

FINMA concludes enforcement proceedings against MBaer Merchant Bank for AML and sanctions failures

Swiss regulator FINMA concluded enforcement proceedings against MBaer Merchant Bank AG concerning anti-money laundering rules and sanctions risk management. U.S. FinCEN designated MBaer as financial institution of primary money laundering concern, alleging bank funneled over $100 million through U.

Treasury Proposes Rule to Sever Swiss Bank MBaer's Access to U.S. Financial System

FinCEN designated MBaer Merchant Bank AG as an institution of primary money laundering concern under Section 311 of the USA PATRIOT Act, proposing to prohibit U.S. banks from maintaining correspondent accounts with MBaer.