Swiss Banking Blog Exonerated in Secrecy Law Probe

Zurich prosecutors have closed an investigation into the Inside Paradeplatz blog, which was suspected of breaching banking secrecy laws. The probe, involving raids on the founder's office and home, was dropped due to insufficient evidence and journalistic protections preventing the use of gathered materials.

The Zurich prosecutors have concluded their investigation into Inside Paradeplatz, a prominent Swiss banking blog, initially accused of violating secrecy laws. Authorities had conducted a raid on the blog founder's office and residence, seizing electronics and documents linked to a 2016 report about an ex-Raiffeisen Switzerland executive.

Following a Zurich court's determination that the evidence lacked sufficient suspicion and journalistic source protection barred its usage, the prosecutors chose to cease the investigation. They announced on December 8 that although the case was reviewed further, the dismissal order remains non-binding legally.

The incident sparked discussions among Switzerland's press freedom advocates, as the blog raid raised concerns about media rights and protections. (Reporting by Dave Graham; Edited by Mark Potter)

(With inputs from agencies.)