Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Switzerland Allows Intelligence Service to Infiltrate Bank Secrecy System


Fri 20 May 2022 | 08:43 PM
Ahmed Moamar

The Swiss government has proposed an amendment allowing the intelligence service to infiltrate the country's banking secrecy system in order to gain access to financial transactions that looks like to finance terrorism, extremism, or violent espionage, according to Russia 24 channel.

The federal government also revealed the existence of a draft aimed at amending the intelligence law and presenting it to consultation.

It also stated that the Swiss intelligence service does not currently have the ability to demand information from banks and other financial intermediaries about persons or groups designated as a source of security risks.

According to a statement issued by the Swiss Federal Government that says: In the event of any serious threats to the country’s security being recorded, in the future, the Swiss intelligence service will be able to scrutinize all financial flows by requesting information from financial intermediaries.