Swiss money laundering reports hit record high in 2014

Switzerland's money laundering office (MROS) received a record number of suspicious activity reports last year, in part due to increased vigilance from Swiss banks.

The Alpine nation has faced intense international pressure over bank secrecy, tax evasion and money laundering, most recently highlighted by allegations that the Swiss arm of HSBC had helped clients to dodge taxes.

The Money Laundering Reporting Office Switzerland (MROS) said on Tuesday that it received 1,753 reports of suspicious activity in 2014, up 24% on 2013 and the highest level since MROS was formed in 1998.

"One explanation for the rather surprisingly high level of reporting may be the increased reporting awareness of financial intermediaries, especially from the banking sector," MROS said in its annual report.

The total asset value of the activity in the reports topped 3 billion Swiss francs ($3.13 billion), with more than 85% of the reports coming from the banking sector.

MROS analyzes reports on suspicious activity related to money laundering and forwards them to Swiss law enforcement agencies where necessary.

The office forwarded 72% of reports to prosecution authorities last year, 7% less than in 2013.