Swiss efforts to end illicit financial flows to be examined by UN expert

22 Sep,2017

Dhaka, BdChronicle:

United Nations Independent Expert on foreign debt and human rights Juan Pablo Bohoslavsky will visit Switzerland from September 25 to October 4 to examine efforts by the country to curb illicit financial flows, such as tax evasion, money laundering and corruption. 


“Switzerland is an important international financial centre, with a banking industry and a hub for global commodities trading. The State and the financial sector must play an important role in curbing the adverse human rights impacts of illicit financial flows,” said Bohoslavsky. 


“My aim is to identify good practices and determine whether there are potential gaps to be addressed. In recent years, Switzerland has frozen a significant amount of stolen assets that corrupt political elites have hidden in the country. Among them are foreign leaders who have carried out human rights abuses. It has also passed legislation to ensure that such assets are returned to the countries concerned.” 


He wants to understand the challenges involved in identifying and returning such funds to the people from whom they have been stolen. 


"This visit forms part of a series I have undertaken this year with a similar focus, including to Tunisia and Panama,” he was quoted as saying in a statement UNB received on Friday from Geneva. 

The visit also provides an opportunity to study how human rights have been incorporated into development financing, international investment agreements and development cooperation, and to identify the challenges Switzerland faces in these fields. 


The Independent Expert is visiting Switzerland at the invitation of the authorities and will travel to Bern, Basel, Geneva and Zurich. 


He will meet senior State officials, including representatives of various Federal Departments, members of Parliament, and other public institutions. He will also hold meetings with leaders in the banking, financial and trading sectors, as well as those from civil society and academic experts. 


Bohoslavsky will present his findings and recommendations in a comprehensive report to the UN Human Rights Council in March 2018. 


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