The Swiss government has offered to give the intelligence service the green light to hack the bank secrecy system to see financial transactions suspected of financing terrorism, espionage or violent extremism.

In this context, the Swiss government has reported and submitted a draft amendment to the intelligence law and has indicated that it is currently not possible for the Swiss intelligence service to request from banks and other financial intermediaries information on a person or groups classified as a source of security threats.

“If serious threats to the country’s security are identified, in the future the Swiss intelligence service will be able to scrutinize financial flows by requesting information from financial intermediaries,” the federal government said in a statement. This measure may apply to companies, non-profit organizations, or religious institutions suspected of facilitating the financing of terrorist activities or any intelligence funding or aimed at supporting violent extremist parties.