Following recent legal developments against journalists reporting on information deemed of public interest but classified under bank secrecy, the European and International Federations of Journalists (EFJ-IFJ) join their Swiss affiliates, impressum and syndicom, in calling for urgent reform of Article 47 of the Swiss Banking Act to include strong public interest protections for journalists and whistleblowers.
Article 47 poses a significant threat to watchdog journalism by criminalising the disclosure of confidential banking information without any public interest exception. Journalists who publish leaked information regarding money laundering, tax evasion, and other financial crimes face severe penalties, including up to five years in prison and fines of up to 250,000 francs (€270,000). The law has been a consistent subject of criticism from journalists and media freedom organisations, who have labeled it as “draconian” and a deterrent for public interest journalism.
Recent cases of prosecution under Article 47 include Lukas Hässig, editor of the independent financial news site Inside Paradeplatz. On 3 June 2025, Zurich police raided his home and newsroom, and seized computers, phones and several documents related to Hässig’s 2016 reporting on former Raiffeisen CEO Pierin Vincenz, and his adviser Beat Stocker – both of whom were later convicted of fraud and mismanagement. Zurich’s public prosecutor stated that the collection of evidence was linked to ongoing criminal proceedings for suspected breaches of banking secrecy. Hässig’s criminal investigation marks the first time Swiss authorities have opened criminal proceedings against a journalist under Article 47.
In April 2025, Bank Reyl lodged a criminal complaint under Article 47 against “unknown persons” following the publication of a cross-border project conducted with the Organized Crime and Corruption Reporting Project (OCCRP), and the news outlets Le Monde, Paper Trail Media, and IrpiMedia. The collaboration, titled, “Anti-Money Laundering Gaps at Swiss Bank Reyl” was based upon leaked correspondence between the bank and the Swiss Financial Market Supervisory Authority (FINMA), where the bank was questioned over its weakness in respect to high risk clients and suspicions of money laundering. Investigative journalists who were involved with the publication and disclosure of information that was leaked have been advised to avoid travelling to Switzerland to avoid any potential criminal prosecution.
“We urge the Swiss authorities to drop the charges against Lukas Hässig and to return the work equipment confiscated from him. We also call for a reform of banking secrecy, so that it complies with European legal standards on freedom of expression and freedom of the press and is up to the standards of a democracy like Switzerland. Wherever there is a public interest to know information, it must take precedence,” said EFJ General Secretary Ricardo Gutiérrez.
“Criminal proceedings against journalist Lukas Hässig have no place in a democratic society. Such actions risk setting a dangerous precedent and could have a chilling effect on journalists investigating financial crimes, which are clearly in the public interest. We call on the Swiss authorities to drop all charges against Hässig and to urgently reform banking secrecy laws to safeguard press freedom and protect journalists’ rights,” added IFJ General Secretary Anthony Bellanger.
Source: EFJ
