SEMINARS
| February 24, 2003
| The Fight Against Money Laundering and Terrorist Financing, the Swiss Financial Privacy Legislation and Know-Your-Customer Rules
| Presenters: Mr. Pierre Mirabaud, Senior Partner of Mirabaud & Cie (Geneva) and Mr. Andreas Hubschmid, Executive Director, Executive Board of the Swiss Bankers Association (Basel). |  | | Selected Quotes
- "There is a big difference between money laundering and financing terrorism. The first is where the money comes from and the second is where the money goes." (Andreas Hubschmid)
- "It is difficult to seize money from terrorist groups. Terrorism doesn't need a lot of money like drug trafficking. You can use quiet schemes and then activate them at one point, therefore, identifying these are difficult." (Pierre Mirabaud)
- "The origin of the money which finances terrorism is legally collected money. Yet this money is misused for criminal purposes." (Andreas Hubschmid)
For Pierre Mirabaud's written statement click here. |
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