is triggered by a complaint to the police or public prosecutor’s office from an individual or an authority. Then, the public prosecutor formally initiates the investigation if the prosecutor believes that there is reasonable suspicion that an offence has been committed, based on the information gathered by the police, the supporting documents and information of a criminal complaint sent directly to the prosecutor, or the prosecutor’s own conclusions. If an offence is committed within regulated financial entities such as banks, securities dealers, or insurance companies, the Swiss Financial Market Supervisory Authority (“FINMA”) might have the competence to conduct investigations and file a criminal complaint. Financial institutions also have an obligation to report suspicious activities in relation to certain offences to the Money Laundering Reporting Office Switzerland (“MROS”), which is Switzerland’s central money laundering office and functions as a relay and filtration point between financial intermediaries and law enforcement agencies. Under the provisions of the Anti-Money Laundering Act, MROS receives and analyses suspicious activity reports in connection with money laundering, terrorist financing, money of criminal origin or criminal organisations and, where necessary, forwards them to the law enforcement agencies for follow-up action. What is your advice to a company who suspects that they are a victim or potential victim of a financial crime in Switzerland and how should a company best manage a crisis and prevent a scandal? A company must handle the situation promptly and appropriately to reduce potential harm and legal cases, mainly related to Criminal Mismanagement, Fraud, Unfair Competition and Data Protection. Who commits whitecollar crimes? Are there certain patterns and how are financial crimes detected? There is no definite pattern to be drawn as to who commits financial crime offences. Criminal Mismanagement, Misappropriation, and Fraud represent a significant part of offences that are prosecuted in Switzerland. The COVID-19 pandemic also offered new opportunities for fraud offenders and there has been an increase in cyberattacks, phishing scams, and CEO frauds. Financial crimes can be detected in various ways. Usually, an investigation 76 LAWYER MONTHLY FEBRUARY 2024 A company must handle the situation promptly and appropriately to reduce potential harm and legal consequences. Sébastien Collart Founding Partner, 100 Legal
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