Go Back   English Forum Switzerland > Off-Topic > Off-Topic > International affairs/politics  
Thread Tools Display Modes
Old 23.02.2011, 14:01
Posts: n/a
Switzerland and USA: banking secrecy & relations


Counterterrorism Coordinator Henry Crumpton met with Swiss officials on September 7 to urge better intelligence sharing on terrorism. Crumpton highlighted the importance of a broad exchange of information as a necessary means to defeating terrorist plans. Swiss officials expressed surprise at USG (US Government) dissatisfaction with their performance, but pointed to various Swiss legal and resource reasons to explain their inability to share more. Swiss officials added that they welcomed the President's decision to transfer 14 high-value al-Qaida suspects to military
custody, asserting that more such gestures would make U.S.-Swiss counterterrorism cooperation easier to sell to the Swiss public.

Meeting later with Swiss officials from the Swiss Banking Commission and from the departments of Foreign Affairs, Economics, and Finance, Ambassador Crumpton joined by Embassy law enforcement and Econoff -- observed that Swiss bank secrecy laws proved a formidable obstacle regarding how much information the Swiss could share with the U.S. on suspect assets. Urs Zulauf, spokesman for the Swiss Banking Commission, explained that the Swiss needed very specific information from the USG in order to freeze assets or start criminal cases; information that was not always forthcoming. He explained that the Swiss legal system had very explicit requirements regarding terrorism financing: "we have no flexibility".

Pulling Vez aside at the end, Ambassador Crumpton underlined the gravity of the situation, describing Switzerland as nearly the only country in Western Europe to have not provided a response to our information on the al-Qaida threat in Europe. Vez was vague in his response, giving no indication he would improve things in the near term.
Reply With Quote
This user would like to thank for this useful post:

baking secrecy, terrorism

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Deduct & avoid taxes from abroad banking services belgian beer lover Finance/banking/taxation 1 19.10.2010 15:23
Honest Justificiations for "Banking Secrecy"? washbrol Finance/banking/taxation 45 10.07.2009 15:54
UBS could lose banking licence in USA Gav Swiss politics/news 87 12.08.2008 11:52
Consumer banking in Switzerland. Guest Finance/banking/taxation 50 30.11.2006 22:31

All times are GMT +2. The time now is 12:26.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0