US and Switzerland to discuss illicit finance cooperation
A senior US Treasury official will meet Swiss regulators next week to discuss illicit finance. The talks follow the closure of a bank for sanctions violations.
The United States Department of the Treasury announced on Friday that it will dispatch a senior official to Switzerland next week to enhance mutual efforts in addressing illicit financial activities. This move comes in the wake of Swiss regulatory actions to close a private banking entity accused of violating money-laundering protocols and circumventing sanctions imposed on Russia and Iran.
A spokesperson for the Treasury confirmed that the official, whose identity has not been disclosed, will hold meetings on Monday and Tuesday with both government authorities and private sector representatives. The discussions are intended to synchronize international sanctions priorities and bolster defenses against illicit financial threats.
