However, the full identity of the account holder is known to selected senior bank officers. Again, the possibility of opening a numbered account is not unique to Switzerland. For instance, numbered accounts are also known in Austria and Luxembourg. In criminal investigations, numbered accounts are treated like any other bank account in Switzerland. Therefore the Swiss banks have all the necessary information with respect to the account holder and such information is made available in the course of legal assistance in the same manner as information on any other Swiss bank account.
Banking confidentiality is no impediment to combatting money laundering.
With no exception, the Swiss criminal procedural laws all provide for the obligation of bankers to testify and provide information to the competent Swiss authorities in case of a criminal investigation. Switzerland is very committed to fighting organized crime and related money laundering operations. Financing illegal drug dealing and acting as an intermediary have been criminal offenses since 1975. The scope of application of these criminal sanctions was significantly enhanced when in 1990 the Parliament amended the Swiss Criminal Code and passed explicit provisions against money laundering. These provisions have been refined over the last few years and they are continuously reviewed to ensure efficiency in enforcement.