Swiss authorities have raided the offices of prominent financial blog Inside Paradeplatz and the private home of its editor, journalist Lukas Hässig, in connection with alleged violations of the country’s strict banking secrecy laws. As first reported by the Financial Times, the June 3 raids were conducted by officials from the Zurich public prosecutor’s office and local police, resulting in the seizure of Hässig’s laptop, mobile phone, and several documents.
Hässig, known for his investigative reporting on the Swiss financial sector, confirmed to the Financial Times that a judge will determine what material collected during the searches may be used in the ongoing investigation. The probe is reportedly linked to the blog’s 2016 coverage of private investments made by Pierin Vincenz, the former chief executive of Raiffeisen Switzerland, and his adviser Beate Stocker. The reporting included leaked bank data from Julius Baer, which led to internal probes at both Julius Baer and Raiffeisen, and ultimately regulatory intervention by Swiss market watchdog Finma.
Vincenz, who was convicted in 2022 for fraud and criminal mismanagement, served a prison sentence after a sensational trial that revealed his misuse of corporate funds for personal entertainment, including strip clubs, luxury travel, and dating expenses. Though his initial sentence was overturned, a final appeal is scheduled for summer 2026.
Hässig has vowed to fight any charges brought against him. “If journalists cannot write this in Switzerland and write about criminal acts, we have a problem in this country,” he told the Financial Times. He warned that the case represents a broader threat to Swiss media, arguing that secrecy laws could be used to shield wrongdoers from public scrutiny.
Switzerland’s banking secrecy laws are among the strictest in the world, criminalizing the publication of confidential financial information even when leaked in the public interest. A 2015 amendment extended liability under the Swiss Banking Act to include third parties such as journalists, with penalties of up to five years in prison and fines reaching 250,000 Swiss francs. The country’s Federal Data Protection and Information Commissioner reaffirmed in 2022 that publishing leaked financial data can be punishable under Swiss law, regardless of whether the data is already in the public domain.
The International Press Institute has urged Switzerland to reform its “draconian” secrecy laws, which it says threaten the ability of journalists to report on issues like tax evasion, corruption, and financial mismanagement. Legal scholars have echoed those concerns. Peter Kunz, a professor of economic and financial law at the University of Bern, called Hässig’s prosecution a “troubling sign for press freedom” that could damage Switzerland’s international reputation.
While no journalist has yet been convicted under article 47 of the banking secrecy law, the current investigation marks a potentially precedent-setting case. “The 2015 move had huge implications for journalistic work,” Hässig said, warning that the chilling effect may deter both domestic and foreign media from covering the Swiss financial sector.
In a brief statement, the Zurich public prosecutor’s office said: “The evidence gathering is related to pending criminal proceedings on suspicion of violating banking secrecy. The presumption of innocence applies until the final conclusion of the proceedings. We are not providing any further information due to the ongoing proceedings.”
The blog Inside Paradeplatz, named after Zurich’s financial district, has long served as a rare outlet for critical reporting on Swiss banking elites. With this latest development, the spotlight is now on the future of investigative journalism in one of the world’s most secretive financial hubs.
