Reading between the lines, it is probably alleged that the Swiss financial intelligence unit contacted the Taiwanese to enquire about Taiwan’s then President Chen’s wife transferring approximately USD20m into Switzerland, whereupon the former director of Taiwan’s Bureau of Investigation is probably alleged to have dropped some not-so-subtle hints into the President’s office...
Banks grade their international counterparts on country risk. Do financial intelligence units do the same?
If suspicions on the transaction were registered in Switzerland and not Taiwan, would the Swiss transaction reporting bank be concerned its operations in Taiwan – if any exist – could be sanctioned by Taiwanese domestic authorities based on political pressure from the President’s office or elsewhere?
Must banks manage a new risk, entitled International FIU Leak on Suspicious Transaction Reporting Risk (IFIULSTRR)?
http://www.straitstimes.com/print/Breaking%2BNews/Asia/Story/STIStory_286537.html
Posts
