Daily financial-crime intelligence · Updated 28 Sep 2026, 23:02 UTC
Swiss federal courts handled approximately 25 decisions involving nearly a dozen Ukrainian cases within one year, primarily addressing corruption and embezzlement of public funds.
Geneva's public prosecutor has concluded a thirteen-year investigation into former Almaty mayor Viktor Khrapunov and family members on money laundering charges.
Money laundering
EFG International has reached a final settlement with Kuwait's Public Institution for Social Security (PIFSS), resolving civil proceedings initiated in the United Kingdom.
Other
UBS agreed to pay €5 million to the Dutch Public Prosecution Service to settle proceedings concerning former Credit Suisse's alleged assistance in filing incorrect tax returns for Dutch clients.
Money laundering
An Italian-Swiss criminal known as 'Lupin del Ticino' (also called 'Gentleman-gangster' and 'Mago del cilindro') faces money laundering proceedings before the Kempten court in Bavaria.
Money laundering
Turkey's Istanbul Chief Prosecutor's Office detained two individuals, Selim Dağbaşı and Hamza Kablan, following a fund investigation related to terrorism financing and money laundering. Dağbaşı is alleged to have transferred $14.
Fraud & scams
A 31-year-old man residing in the Czech Republic was arrested in Thusis, Grisons, on suspicion of repeated fraud targeting elderly victims in Ticino's Riviera and Mendrisiotto regions.
Other
Israeli tax authorities suspect investor Amir Dayan concealed his wealth behind a 91-year-old French individual to hide his fortune. Dayan owns significant real estate in Berlin, hotels in England, and maintains an account in Switzerland.
Money laundering
Former Geneva Bar president Luc Argand provided his law firm's account as a conduit for bribes funneled by Mirabaud & Cie bank between approximately 1997 and 2012. The bank transferred 85 million francs in bribes to Fahad Al Rajaan, head of Kuwait's pension fund.
Money laundering
Italian authorities allege aggravated fraud and money laundering related to the estate of Felice Riva, a former textile magnate and former president of AC Milan (1960s), who died in Tuscany in 2017.
Money laundering
Three individuals connected to the Pierre Mirabaud banking scandal received criminal penalties in connection with approximately 80 million francs in undisclosed commissions.
Money laundering
A trial began involving a Mexican real estate project that allegedly caused approximately €750 million in damages. Prosecutors allege systematic fraud where bank administrators improperly favored developers by providing abusive credit with inflated valuations.
Money laundering
Federal justice has convicted six Swiss banks for corruption or money laundering cases. The rulings specifically concern cases highlighting issues related to compliance and internal controls of banking institutions.
Money laundering
Spanish National Court Judge José Luis Calama, investigating the Plus Ultra airline rescue, sought judicial assistance from Swiss authorities regarding approximately 53 million euros in government rescue funds.
Money laundering
Swiss authorities examined one financial lead in the investigation of former president José Luis Rodríguez Zapatero regarding alleged Venezuelan capital laundering, but found no accounts linked to Kingsfield Consulting Corp at UBS or Crédit Agricole after tracing two banks at the request of Spanish judicial authorities.
Money laundering
Pierre Mirabaud, former president of Switzerland's banking association, received a two-year suspended prison sentence after conviction by Switzerland's Federal Criminal Court in Bellinzona for bribery and money laundering. The case involved approximately 82.3 million Swiss francs ($101.
Trafficking
Italian justice obtained seizure of two ancient vases held by the Geneva Museum of Art and History (MAH) and the University of Geneva. The antiquities, potentially sourced from trafficking, are held by the Geneva association Hellas & Roma, which supplies collections to the MAH.
Other
The Geneva Tax Administration has initiated proceedings against Cameroon businessman Paul Kammogne Fokam for allegedly failing to declare substantial wealth during approximately a decade of residence in Switzerland.
Tax evasion
Franco-Swiss banker Paul Hottinguer faces trial in Paris on charges of tax evasion for allegedly misrepresenting his tax residency between 2011 and 2021 to evade French taxes.
Money laundering
Pierre Mirabaud, former president of the Swiss Bankers Association (2003-2009), was convicted by Switzerland's Federal Criminal Court of bribery and aggravated money laundering over 82.3 million Swiss francs ($101.
Money laundering
Pierre Mirabaud, 77, a former partner at Swiss private bank Mirabaud & Cie and former president of Switzerland's banking association (2003–2009), was convicted by Switzerland's Federal Criminal Court in Bellinzona of bribery and aggravated money laundering.
Fraud & scams
Amit Shabi and Marco Shabi, managers of Bernheim Dreyfus & Co, an asset management firm founded in Geneva and later relocated to Paris, have pleaded guilty following an agreement with the National Financial Prosecutor.
Money laundering
ICIJ reports that Alejandro Betancourt, who holds a majority stake in the company granted 100-year Venezuelan oil concessions, is under investigation in Spain and Switzerland on suspicion of laundering billions from Venezuela.
Trafficking
The Ticino Public Ministry opened criminal proceedings against a Lugano-based lawyer and a legal professional from his firm. According to prosecutors, the two are suspected of transmitting confidential information regarding the SkyEcc affair that allowed defendants to anticipate arrests.
Money laundering
Paul Hottinguer, heir to a Franco-Swiss banking dynasty, is being tried at Paris Criminal Court for aggravated tax fraud and money laundering.
Money laundering
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
The US Treasury Department designated approximately 60 individuals, entities, and vessels targeting networks connected to Mohammad-Hossein Shamkhani.
Fraud & scams
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.
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.
Money laundering
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.
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
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.
Other
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
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.
Swiss financial regulator FINMA opened enforcement proceedings against Zurich Insurance after Swiss customers in the corporate life and pensions unit were sold policies at lower prices than those agreed with the regulator. FINMA imposed a sales ban on new policies in the unit.
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
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.
Money laundering
Lebanon's Banque du Liban filed lawsuits against Lebanese banks and officials seeking recovery of billions in allegedly misappropriated funds.
Fraud & scams
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.
Money laundering
Representatives of Banfileños S.A. and the Banfileña Reconstruction Trust did not appear to testify before the Federal Criminal Court in Lomas de Zamora.
Other
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 published Guidance 04/2026 supplementing its 2023 money laundering risk analysis framework for banks and FinIA institutions.
Money laundering
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.
Sanctions
UK detained sanctioned Russian oil tanker SMYRTOS in English Channel on June 14, 2026, marking Britain's first operation against sanctioned Russian vessel in its own waters.
Money laundering
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 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
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.
Fraud & scams
French authorities formally charged HSBC Private Bank Suisse in early June 2026 in connection with alleged embezzlement of more than $300 million from Lebanon's central bank, Banque du Liban (BDL), between 2002 and 2015.
Other
The UK Insolvency Service announced on 4 June 2026 that Lex Greensill, 49, founder of the collapsed Greensill Capital, will be disqualified from acting as a company director in the UK for nine years, with the ban taking effect on 23 June 2026.
Fraud & scams
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
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.
Other
FINMA concluded enforcement proceedings against Wendelspiess Partners AG for serious breaches of financial services rules.
Fraud & scams
Transparency Venezuela documented 719 assets across 21 countries traced to corruption investigations from Venezuela (2009-2026), totaling over $3.9 billion.
Money laundering
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.
Money laundering
DOJ and CFTC filed parallel criminal and civil insider trading actions against Michele Spagnuolo, a Google software engineer based in Switzerland.
Trafficking
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
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
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.
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 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
Geneva Criminal Court convicted a wealth manager on April 28, 2026 for breach of trust and disloyal management.
Money laundering
The Paris criminal court convicted former UDI Senator Aymeri de Montesquiou on May 7, 2026 for aggravated tax fraud and money laundering.
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
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.
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
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.
Money laundering
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.
Fraud & scams
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
French authorities conducted searches at the Institut du Monde Arabe on February 16, 2026, as the PNF launched a preliminary investigation for 'aggravated tax fraud laundering' targeting Jack Lang and his daughter Caroline.
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…
Money laundering
The Swiss Financial Market Supervisory Authority (FINMA) has concluded enforcement proceedings against private bank Mirabaud & Cie SA, finding that the bank 'seriously violated' provisions of financial market law concerning anti-money laundering obligations.
On June 14, 2026, British Royal Marines commandos and National Crime Agency officers boarded and detained the tanker SMYRTOS in the English Channel, marking the first UK-led operation of its kind against Russia's shadow fleet.
Money laundering
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.
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.
Money laundering
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 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
The Administrative Tribunal of Dijon rejected an appeal by Égalité et Réconciliation (E&R), the association of far-right polemicist Alain Soral, upholding a €250,000 tax assessment for fiscal years 2019 and 2020.
MAS issued prohibition orders against two former relationship managers convicted in connection with Singapore's August 2023 $3 billion money laundering case.
Money laundering
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
French prosecutors are seeking prison sentences of up to 5 years for Ahmed Ali Saleh and Khaled Ali Saleh, sons of deceased Yemeni President Ali Abdullah Saleh, for allegedly laundering tens of millions of euros in embezzled state funds.
Money laundering
Swiss regulator FINMA's license revocation of MBaer Merchant Bank became legally binding in late February 2026 after bank withdrew appeal.
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.
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.
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
The Swiss Federal Criminal Court convicted Pierre Mirabaud, 78, former president of the Swiss Bankers Association, giving him a two-year suspended sentence. According to the indictment, he transferred 82.
Other
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.