Swiss Journalist Faces Criminal Probe Over Banking Secrecy “Gag Law”

June 24, 2025 – Switzerland –

Swiss police and prosecutors launched a raid in early June on the home and office of financial journalist Lukas Hässig, editor of the influential blog Inside Paradeplatz. Authorities seized his computer, phone, and documents as part of a criminal investigation under Article 47 of Switzerland’s Banking Act—a seldom-used legal provision that discloses confidential banking information, even when revealing wrongdoing, punishable by up to five years in prison and CHF 250,000 in fines.

Hässig’s reporting, dating back to 2016, exposed alleged misconduct by Pierin Vincenz, the former CEO of Raiffeisen Bank, including investigations into private investments and leaked bank data. While Vincenz was ultimately convicted of fraud, Swiss authorities are now accusing Hässig of violating secrecy laws despite the public interest of his work.

This marks the first time the provision has been used directly against a journalist, prompting alarm from press-freedom advocates. Reporters Without Borders and the International Press Institute (IPI) denounced the raid as a serious threat to investigative journalism in Switzerland, warning it sets a dangerous precedent and may chill future reporting on corruption in the financial sector.

Under the law’s 2015 extension, not only bank insiders but also third parties like journalists and whistleblowers can face prosecution for publishing confidential client information, even truthful and newsworthy content. Critics say the law protects powerful institutions and undermines transparency.

Hässig pledged to challenge any charges, warning that Switzerland risks eroding its reputation if journalists are barred from exposing corporate misconduct. IPI has called on authorities to drop the investigation, return his devices, and reform the Banking Act to include public-interest exceptions for journalists and whistleblowers.

The case follows past controversies like the 2022 Suisse Secrets leak—where Swiss outlets opted out of publishing Credit Suisse leaked files due to legal fears—highlighting the law’s chilling impact on financial journalism

Reference – 

Switzerland: Police raid journalist’s home under draconian banking secrecy law

https://www.lemonde.fr/en/economy/article/2025/06/19/swiss-police-raid-on-financial-blogger-reignites-criticism-of-gag-law-restricting-reporting-on-banks_6742514_19.html

Swiss journalist faces prosecution under banking secrecy law