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Due to Switzerland’s declared military neutrality in World War II, Swiss banks had been a safe haven for Jewish assets before and during the war. The Holocaust saw the genocide of approximately six million Jews, which included individuals who had deposited their funds into Swiss banks. Since the end of World War II, some individual heirs to ...
During the Second World War, Switzerland was the hub of European gold trade. 77% of the German gold shipments abroad were arranged through it. Between 1940 and 1945, the German state bank sold gold valued 101.2 million Swiss francs to Swiss commercial banks and 1,231.1 million francs through the Swiss National Bank (SNB).
The report asserted that in 1945, the Vatican had confiscated 350 million Swiss francs ($1.5b 2020) in Nazi gold for "safekeeping," of which 150 million Swiss francs had been impounded by British authorities at the Austro-Swiss border. The report also stated that the balance of the gold was held in one of the Vatican's numbered Swiss bank accounts.
The Humanitarian Fund for the Victims of the Holocaust was created by the Swiss Bankers Association (SBA) as a result of the "Meili Affair".The fund enabled the Swiss financial industry to participate in the process of paying reparations to the victims of Nazi looting during World War II that was abetted by Swiss banks and the failure of Swiss life insurance companies to honor the policies of ...
Switzerland has Europe's tenth-largest Jewish community, with about 20,000 Jews, [1] roughly 0.4% of the population. The majority of the Jewish communities are domiciled in the largest cities of the country, i.e. in Zurich , Geneva and Basel .
The Commission was established by a memorandum of understanding on May 2, 1996, between the World Jewish Restitution Organization, the World Jewish Congress and the Swiss Bankers Association. The MOU indicated two objectives for the committee: "(a) to identify accounts in Swiss banks of victims of Nazi persecution that have lain dormant since ...
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Greta accompanied her, witnessing her treatment by the Swiss banks. [5] Realizing that her mother was not the only Jewish refugee whose assets were being kept by Swiss banks, Greta Beer shared her story with Wall Street Journal reporter Peter Gumbel, who wrote an expose on how Swiss banks were hiding the accounts from their refugees owners. [2]