‘Kiss of death’: how the US killed a Swiss merchant bank

Section 311 is not used a lot but when it is, it is the kiss of death,” said Tom Keatinge, director of the Centre for Financial Crime and Security at the Royal United Services Institute...“In the eyes of many people — and certainly US authorities — Switzerland is guilty until it proves itself innocent,” said RUSI’s Keatinge. “It has repeatedly reinforced that perception by waiting for others to act first. This could have been an opportunity to change that.”