A Swiss court has ordered Bern to stop transferring secret banking data to Italy in connection with a money laundering case.

A ruling by the Federal Criminal Court on 28 June 2013 has stated that by cooperating with the Italians through the transfer of banking data, Switzerland was violating the rights of the nine people accused in the case.

The nine stand accused of money laundering and bankruptcy fraud after they allegedly sold €650 million in bonds on an unnamed company’s debt and having stolen another €350 million from a Naples-based company.

In September 2012, Italian authorities requested judicial assistance from Switzerland, asking the small, Alpine nation renowned for its strict banking secrecy to hand over details on the suspects’ Swiss bank accounts.

The Italian-speaking Swiss canton of Ticino has given green light to hand over the documents.

In response to this decision, four of the charged filed a complaint stating that their rights were being violated as they were not consulted before the banking details were transferred.

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In light of the ruling, the Ticino prosecution must now reformulate its response to the Italians to take into account the rights of the accused.