Swiss Prosecutor Warns Legal Delays Are Undermining White-Collar Crime Crackdown

Attorney General Stefan Blaettler, who has made financial crime enforcement a priority since taking office in 2022, argues that procedural rules designed before the digital era are slowing investigations and creating opportunities for defendants to delay proceedings. Existing laws allow suspects to seal evidence and complicate the exchange of information with foreign authorities, significantly extending the time needed to build cases involving international money laundering, corruption, and financial fraud.

The consequences have already become visible in several high-profile investigations. Cases involving a former Credit Suisse compliance executive and Gulnara Karimova, the daughter of Uzbekistan's former president, were abandoned after exceeding Switzerland's statute of limitations. According to Blaettler, these outcomes illustrate a structural problem rather than isolated failures, with prosecutors facing legal deadlines that are increasingly difficult to meet in multinational financial investigations.

Despite these obstacles, Swiss authorities have achieved notable enforcement successes in recent years. Prosecutors secured convictions and financial penalties against major commodity trading firms including Trafigura and Gunvor, demonstrating a stronger willingness to pursue corporate wrongdoing than in the past. Authorities have also benefited from a rise in suspicious transaction reports and greater international cooperation, leading to more investigations and an expanding pipeline of cases.

However, broader reform remains uncertain. The Swiss government is considering measures that would strengthen cooperation with the European Union and accelerate access to digital evidence, but political resistance in parliament could delay or weaken those initiatives. Anti-corruption organizations such as Transparency International and Public Eye argue that Switzerland has improved transparency but still faces significant vulnerabilities that sophisticated financial criminals can exploit. Blaettler maintains that additional prosecutions are forthcoming but warns that without modernized legal procedures, even strong investigations may continue to lose momentum before reaching the courtroom.