You have a very important transaction skyrocketing your business. Your Swiss banker is not prepared to cooperate with you. He always comes up with new questions asking for more and more documents. He is obstructing your transaction. You are losing time and reputation with your counterparties. Now, you banker told you that your Swiss bank account is frozen due to suspicious activity. The disaster is completed. This video shows how to deal in such a situation and how to close such a transaction, despite all difficulties.

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A Russian client with an international transaction has Swiss bank accounts with some offshore companies managed out of Switzerland. Some important documents are in Russian language. Nobody in this bank understands Russian agreements. It comes out that the compliance officer is not capable to understand the economic background of this transaction because he is not familiar with the specific business area. By virtue of Swiss anti-money laundering laws the economic background of a transaction has to be evidenced based on documents only.

Your bank account frozen due to suspicious activity and how we fix it

A neutral third party, it can be an auditor, needs to understand the architecture of the transaction just based on such documents – without further oral explanations. That’s the law. Now, a very important tip. The documents must be collected and submitted to the bank before the transaction will take place, not after. I called the bank. I have spoken directly with the compliance officer to check what happened and to feel the temperature of the situation. Other lawyers are writing long letters. I do it must faster. I take the phone in my hand and I call immediately. The client is sitting beside me. Together with the client we made a chart evidencing the flow of funds and we explained the business case with a short memorandum – in a short time.

The most important agreements were translated in English. We submitted the architecture of the transaction to the bank, we delivered the chart evidencing the flow of funds, and the account was released and the transaction immediately executed. We were fast and successful. If you are doing so called trade finance business, you should work with banks specialized with trade finance and not with pure asset management banks. You need to work with a bank being familiar with your geographical area and familiar with the specific business area you are involved with.

By the way. I advised my client to change the bank. If he continues to work with the wrong bank not being familiar with the specific business of the client, my client is under risk to be reported to the AML Reporting Office in Bern.

If you do trade finance, you should work with banks familiar with trade finance and not with a pure asset management bank. This case is very typical and very frequent. We are very fast in solving such cases. Why? Very simple. We do not write kilometers of letters wasting the time of our clients, we solve the problem immediately, on the table, with the bank, face to face.

If you don’t have a good feeling with your banker, pick up the phone now and dial +41 44 212 44 04. Call us for help now! We save your time, your money and your nerves. Be rich and remain rich. Have a wonderful day.