This itvu (in German) with #Finma boss Mark Branson is an ideal complement to the media blitz by Daniel Thelesklaf recently:
Branson talks about suspicious activity reports in #Switzerland (#MoneyLaundering) surging to about 8,000 per year, from 1,000.
nzz.ch/wirtschaft/ban…
That's still low internationally (and remember Switzerland remains world's largest offshore haven), but Branson is arguing that notifications are high quality.
Whatever the quality, officials still can't keep up. We know this from the guy who oversaw it:
finews.com/news/english-n…
Branson also says that #1MDB is one of the most brazen and biggest graft cases the world has ever seen.
1MDB had art, jewelry, luxury property, Hollywood blockbuster, etc. but #PDVSA is not only much larger in scale, it also has far more tragic real-world impact on Venezuelans.
Branson, who is now Swiss in addition to British and definitely knows his way around Bern, also wisely demurs to the legislature on extending anti-money laundering controls to lawyers and other ancillary jobs to private banking.
#Swiss parliament showed us just last month how little will they have to tackle this.
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