FOR MONEY LAUNDERING.
In a first major admission of being an attractive destination for money
laundering of assets illegally amassed,Switzerland has said it needs to
further strengthen its systems for combating money laundering and
The admission comes at a time when Switzerland has been facing
immense pressure from India and many other countries to share deals
of Swiss bank customers suspected to have used the famed secrecy
walls of banking institutions in the European country to hide their
Source :Global Financial Integrity.