Open Switzerland...
Swiss banks began to report to the federal anti-money laundering authority about suspicious transactions with accounts of their clients from Saudi Arabia. At the same time, the Swiss prosecutor's office informed that no assets of clients were frozen, there were no criminal investigations and all this was standard practice.

The movement in the Swiss banks began when in Saudi Arabia went "cleaning" of officials and members of the royal family. It looks like, in front of the "Royal scandal", Swiss banks decided not just to distance themselves, but to disclosed wealthy clients information and became more transparent. By the way, according to the Swiss Federal Department of Justice, Saudi Arabia did not asked to assist in the investigation.

In fact, with the Swiss banking secret was over with the history of UBS in 2009, after that Switzerland had to reject its previous model of behavior. It should be remembered that in 2018 Switzerland will automatically exchange tax information with other countries, and we should be ready for this.

Samvel Airapetyan