Letter of concern regarding the swiss bank UBS

We have informations that Chief Minister Musa Aman and his ruling family (Malaysia) are systematically lining their pockets with the spoils of tropical deforestation. UBS, a major Swiss bank, is said to have helped them launder their money. In doing so, UBS violated international standards for the prevention of money laundering. Swiss authorities are currently considering whether to open criminal proceedings against UBS. Following a report of “Rainforest rescue” I have written the following letter to a leading authority of that UBS bank:

Dear Mr. Ermotti,

Documents of the Malaysian Anti-Corruption Commission (MACC) and the Swiss Bruno Manser Fund (BMF) indicate that UBS has managed the bank accounts of Musa Aman. The MACC has been investigating Aman, the Chief Minister of the Malaysian state of Sabah, for years on allegations of illegal trade in tropical timber, corruption and money laundering. The Chief Minister’s illegal activities are endangering one of the planet’s most diverse ecosystems.

A further shocking aspect of the Musa Aman case is that the corrupt politician allegedly laundered over US $90 million in bribes from logging companies through UBS accounts in Hong Kong. He also maintained an account at UBS in Zurich.

Documents available to the BMF pertaining to the case indicate that the money laundering via UBS was only possible due to gross violations of legal due diligence on the part of the bank. In late May, the BMF therefore filed a criminal complaint with the Zurich public prosecutor’s office against UBS for lack of safeguards against money laundering.

As UBS states on its website, your company intends to “take part in the fight against money laundering, corruption and the financing of terrorism”.

To this end, I call on you to cooperate with the Swiss and Malaysian authorities in their investigations of Musa Aman. Furthermore, I urge you to freeze the accounts of Musa Aman, his family members, and the companies associated with them, and to publicize UBS’s internal policy on customers in the timber industry. I encourage UBS to comply with self-imposed and statutory standards of due diligence and avoid questionable business relationships with demonstrably corrupt politicians and destroyers of the environment.

These measures would not only facilitate government investigations of Musa Aman, they would also enhance the public image of UBS.

Sincerely,
Prof. Dr. Peter Finke
33739 Bielefeld