Highlighting the problems posed by illicit financial flows globally, including undermining rule of law and human rights, a United Nations human rights expert has called on Switzerland to ensure that so called dirty money - which stems from tax evasion and corruption - does not enter its financial market.
"Despite significant efforts in adopting legislation and improving procedures to detect suspicious transactions, the risk that the Swiss financial market is used for money laundering remains," said Juan Pablo Bohoslavsky, the UN Independent Expert on foreign debt and human rights, in a news release issued by the Office of the High Commissioner for Human Rights (OHCHR).
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