The Swiss Federal Money Laundering Reporting Office revealed recently that the number of tip-offs on suspected money laundering cases rose to 417 in 2001, from 311 the previous year.
The anti-money laundering body explained that although a proportion of the increase in tip-offs can be accounted for by banks responding to the September 11 attacks, the sharp rise in the value of suspicious funds reported (2.7 billion francs in 2001, compared with just 655 million in 2000) was mainly the result of five large, high profile cases, including the Elf Aquitane corruption scandal.
The office also revealed last week that the alpine jurisdiction's two main banking centres, Zurich and Geneva, both had the same number of money laundering cases last year, with 113 suspicious transactions reported in each city.
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