US Treasury Sanctions Two Swiss Lawyers For Aiding Russian Clients

2024-10-30 02:27:01

(MENAFN- Swissinfo) The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has added two Swiss lawyers to the sanctions list. They are said to have created companies and trusts to help Russian clients evade sanctions.

This content was published on October 30, 2024 - 17:38 3 minutes Keystone-SDA/swissinfo

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According to a press release from the US Embassy in Switzerland on Wednesday, the two individuals are said to have facilitated the illicit flow of funds. They avoided oversight due to a loophole in Swiss law that allows lawyers to serve as non-financial intermediaries under the guise of their profession without due diligence or reporting requirements.

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