Fight against terrorism

What measures have been taken by the Swiss banks regarding the fight against terrorism?

 
Firstly, the fact must be stressed that the bankers' professional secrecy does not protect and has never protected terrorists nor any other criminal. In fact, banking privacy is systematically lifted for inquiries into criminal activities, of which terrorism is one. Moreover, in criminal matters, Switzerland works efficiently and is quick to provide other countries with judicial assistance should they request it. In this respect, we can point out that the American authorities have highlighted the excellent co-operation they have received from the Swiss authorities and banks following the September 11 attacks. Furthermore, the federal law governing money laundering makes it obligatory for the Swiss banks, in the case of justified suspicion, to report suspicious transactions to the competent authorities. Finally, all the strict regulations imposed on the Swiss banks concerning the identification of account holders and beneficial owners are also an effective tool against the financing of terrorism.