Switzerland Plans Joining UK-Led Anti-Kleptocracy Task Force

Switzerland is considering joining the UK-led International Anti-Corruption Coordination Centre (IACCC) to combat kleptocracy and recover stolen assets, aiming to improve its reputation as a haven for illicit wealth. British Foreign Minister David Lammy highlighted Switzerland's key role in global anti-corruption efforts during recent discussions with Swiss authorities, emphasizing that its membership would be invaluable. The IACCC, established in 2017 and hosted by Britain's National Crime Agency, coordinates intelligence sharing and investigations among countries including the US, Australia, Canada, and New Zealand, having identified and frozen billions in suspected stolen funds. Switzerland's participation would enhance collaboration on major investigations and support ongoing transparency reforms, such as stricter rules on beneficial ownership. Despite Britain's leadership in fighting illicit finance, it continues to face significant challenges, with the National Crime Agency estimating over 100 billion pounds laundered annually through UK channels. This move reflects a broader effort by Switzerland to shed its longstanding image as a safe haven for dirty money.