Transparency International urges Swiss property law change
The anti-corruption organization, Transparency International, is calling for more regulations on buying and selling property in Switzerland. Currently the organization says there are too many gaps in the process which makes it easy to launder illegal money.
While there has been increased supervision in the financial sector – those looking to hide cash are now turning to the property market.
Transparency International says there should be more public records on property trades and real estate agents and notaries should also make more effort to ensure the money changing hands is legitimate.