With the help of a revised money laundering act, Switzerland wants to drain the swamp in the financial center. But no one expected the sale of washing machines in the heart of Zurich's banking district.
As of now, household appliances and washing machines are available for sale in public at Paradeplatz 4 in the shadow of UBS and Credit Suisse. The Swiss company BSH Hausgeraete (Switzerland) announced the opening of a Bosch brand store at the location. From kitchen utensils to vacuum cleaners to washing machines, a high-end assortment of German domestic appliances is available there. In addition to sales and advice, the newly renovated premises will also host inspiring cooking events (see video clip).
Suspicious Neighbors
Whether francs, dollars, or euros will also be laundered during the promised appliance demonstrations, however, remains in doubt. However, the fact that the direct neighbors of the Bosch store on Paradeplatz have at least done this in the past remains open to question. UBS, for example, is defending itself in France against a criminal judgment in which money laundering is one of the charges. And last summer, Geneva prosecutor Yves Bertossa made corresponding accusations against Credit Suisse in the Lescaudron affair.
At the beginning of 2023, the revised Money Laundering Act comes into force in Switzerland, to drain the perceived swamp in the financial center.
In this regard, the company BSH is seemingly light-hearted. «The Paradeplatz, as one of the city's hubs, belongs to the everyday life of the people of Zurich, just like Bosch household appliances,» local BSH boss Katharina Roesinger is quoted as saying in Wednesday's report. «We are delighted to be able to bring the whole world of the brand to life for our customers at such a central, highly frequented location.»
During bonus season, one of the most dangerous places to be is between a bonus-flush banker and a watch shop. Will these appliances become the next «must-have» status symbol for bankers?
