As published on finews.com, Thursday 28 January, 2021.
Switzerland may be safeguarded against corruption better than other countries, but lags on fighting money laundering, according to Transparency International.
The Swiss image of an alpine haven for untaxed assets and where criminals launder their ill-gotten spoils isn't entirely accurate: Swiss banks have undertaken enormous efforts in the last decade to clean up their accounts and improve their dealings.
But Switzerland still has to improve in protecting whistleblowers, in private sector corruption, and in sports, according to an annual perception index compiled by Transparency International (in German). The so-called Corruption Perceptions Index (CPI) doesn't factor in how well countries combat money laundering.
Several recent whistleblower cases have alarmed organizations like TI, which criticize that those speaking up aren't adequately heard or protected, nor does Swiss law provide for them.
A cardiologist at Zurich's university hospital, for example, was dismissed after highlighting medical malpractice. He was only reinstated after the case became public.
All told, Switzerland ranks in third place of being favorably viewed for fighting corruption in the public sector, a spot it shares with Finland, Sweden, and Singapore. Denmark and New Zealand lead the index. The CPI measures the perception of corruption in 180 countries.