Former Raiffeisen CEO Fined in Switzerland.

The former Chief Executive Officer of Raiffeisen Bank, Pierin Vincenz, has been ordered to pay a fine of nearly CHF 1 million following a confirmed tax evasion ruling in Switzerland.

The Swiss Federal Court recently rejected Vincenz’s appeal, upholding earlier decisions made by the Cantonal Court of Appenzell Ausserrhoden. The ruling confirms that he failed to properly declare approximately CHF 3.4 million in income between 2012 and 2015.

In April 2025, the cantonal court imposed a fine of CHF 980,000 for tax evasion. Following legal appeals, the Federal Supreme Court reaffirmed the judgment in early May 2026, making the penalty final. In addition to the fine, Vincenz was ordered to pay CHF 12,500 in legal costs.

Swiss media reports indicate that the case was initially revealed by SonntagsZeitung, while the Federal Court decision was later confirmed by Keystone-ATS.

Authorities originally began examining Vincenz’s tax declarations due to separate ongoing criminal investigations in Zurich. The Zurich public prosecutor has also accused him and his former associate Beat Stocker of multiple financial crimes, including fraud, disloyal management, breach of trust, forgery of documents, and unfair competition.

The case has drawn significant attention in Switzerland due to Vincenz’s former leadership role at one of the country’s major banking institutions and the scale of the financial misconduct allegations.

Switzerland Intensifies Global Crackdown on Tax Evasion

Authorities in Switzerland have stepped up efforts to combat undeclared assets and tax evasion through expanded international cooperation and data exchange.

According to the Federal Tax Administration, the country received information on approximately 3.5 million foreign bank accounts in 2025 as part of global transparency measures.

At the same time, Switzerland submitted 61 administrative assistance requests to 26 countries, slightly fewer than in previous years but still reflecting ongoing enforcement efforts. Officials confirmed that the highest number of requests were directed to Germany and Cyprus.

Notably, no data exchange took place with Russia during this period.

Meanwhile, incoming requests from other countries remain high. In 2025 alone, Switzerland received 6,968 administrative assistance requests, leading to the exchange of information related to around 3.8 million bank accounts.

These requests primarily came from countries including France, Austria, Germany, Spain, Ukraine, and the United States.

Officials noted that the presence of a large number of foreign residents, including refugees, may contribute to the volume of requests. However, the overall number remains lower compared to previous years—particularly 2016, when more than 66,000 requests were recorded.

Switzerland continues to strengthen its role in global tax transparency, signaling a firm stance against tax evasion and financial secrecy.