[pjc50]

The absolute peak of that was, of course, during WW2 when vast amounts of stolen or looted money, gold, and other valuables ended up being laundered through Switzerland and kept in anonymous accounts. Mostly by Nazis, although not exclusively. There was a long campaign of litigation by the descendants of Holocaust victims to get some of it back.

In the 21st century the US eventually pressured them into not being a tax haven for anonymous money hidden by US nationals.

The twin questions of tax and terrorism remain as pressure against money laundering.