Russian money still flows into Switzerland

Friday, 15 September 2023 08:33

Wealthy Russians were able to continue transferring money to Switzerland long after the invasion of Ukraine.

Switzerland prohibited its banks from accepting deposits of over CHF 100,000 from Russian nationals back in March of 2022.

Despite this, a Tamedia Press Group report released yesterday gives one example of a public company boss - actively supporting the war - whose daughter and wife were able to deposit millions of francs into Swiss banks after the start of the war, notably in Reyl and Julius Baer banks.

More from Bitesize News

Heavy snow causes chaos

Heavy snowfall across central parts of the country brought chaos, cancelled trains, blocked roads and children building snowmen on the autoroute.
Geneva car tax issue dominates Grand Council

Although it wasn’t on the agenda for last night’s meeting of the Geneva Grand Council, the issue of the new vehicle tax dominated proceedings.
Franc strongest against euro

It’s good news for cross border shopping and frontaliers – the franc has reached its highest level against the Euro.
SRG/SSR faces massive cuts

Are the days numbered for public service broadcasting?
People now back nuclear power

A new survey suggests public opinion towards nuclear power has changed dramatically.
4m e-vignettes sold

Four million people last year chose to forgo the sticky mess of a vignette on their car and bought an electronic one instead.