Bangladesh, April 13 -- Switzerlands pristine image as a global financial powerhouse is again under serious scrutiny following revelations that one of its elite private banks, Reyl Intesa Sanpaolo, has systematically failed in its anti-money laundering (AML) obligations. Leaked internal correspondence between the bank and the Swiss Financial Market Supervisory Authority (FINMA), obtained by the Organized Crime and Corruption Reporting Project (OCCRP) and Le Monde, paints a disturbing picture of complicity, regulatory indifference, and a deeply entrenched culture of secrecy.

At the heart of the storm is Reyl, a Geneva-based boutique bank that has long marketed itself as a discreet and customer-focused institution for wealthy international...