Suspected money laundering up 29%: Swiss police

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More than 1,000 suspected money laundering cases worth a collective 847 million francs (654 million euros, $079 million) were reported to Swiss authorities in 2010, up 29 percent from the figure a year ago, federal police said on Thursday.

Most of the reported cases -- 86.5 percent -- were subsequently forwarded to prosecutors, said police, who noted the "excellent quality of the submitted reports."

The jump in caseload this year could be attributed mainly to two cases reported by the banking sector, as the "numerous business connections reported in connection with these two cases generated a large number of suspicious activity reports."

Among reports made in 2010 were 13 cases allegedly related to terrorist financing.

Ten of them were forwarded to the federal prosecutor's office, but in six of these cases, no hard evidence of terrorist financing was uncovered.

© 2011 AFP

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